Here at Kansas State, my class is the first to be completely "paperless."
We received a convertible tablet PC at the beginning of the school year. A bunch of our notes were pre-loaded onto it, and some of our profs wouldn't get the PowerPoints for their lectures up until mere hours before classtime. Eh, whatever...it would be MUCH more convenient to have everythng in the same place, but sometimes life isn't perfect.
I'm an old(er) student who never had a laptop in college and was way stressed about the transition to studying off of a computer versus printed notes. I don't even own, nor can afford, a printer! I started off the school year taking notes with the pen stylus on the tablet. It's great--you can change colors with a single tap (so color-coding diagrams/notes is no problem), and I get the "learning-by-doing" kind of fix. I've had some problems with Microsoft's OneNote software, though, and this semester am trying to mostly type my notes on the powerpoints and adding in hand-drawn diagrams with the stylus as needed...seems to be working pretty well so far.
I find I can still re-write my notes and study from them. If I really wanted to, I could print out all 30+ powerpoint slides for each lecture, but I don't feel the need. Because time is at such a premium, when I re-write my notes, I end up creating an actual study guide that's in outline form and only contains the things I don't already know cold--so then I study from that hard copy. It works really well! I'm filtering information as I go through my notes, which reinforces concepts and makes me analyze how well I really understand information/point x, y, z...
You can make the transition, it's possible, it's rewarding. Sometimes it is a bit frustrating and I wish for the "olden days" of dedicated spiral notebooks for each class...but it is AWESOME that I can basically Google my own notes for anything related to, say, a certain enzyme or something. I have a feeling that's going to serve me well in clinics. Also, when studying, no flipping through pages saying, "I KNOW there was a slide that said something about this SOMEwhere"--instead, you just type in a keyword and it finds all incidences! Very cool and much more efficient time-wise.
Hope this helps!