I can't believe the strong emphasis on Pages in this thread.
Don't get me wrong. Pages
is a lovely and handy word processor that has been developed by the makers of the iPad, but to use for taking notes in lectures... I don't know if I can completely recommend it.
Pages is something you can use for starting, doing, and finishing assignments due in sections/lectures, but isn't convenient to use for lectures itself.
I have plenty of experience with the iPad for notes, as I'm a student in Berkeley and got my iPad upon release (April 3rd) and took it to my very first lecture on day one (Monday, April 5th). Since then, I've been using it for school work and papers. I think that's what Pages is about and best for. Yet no app that I have tested (Wondershare iDraft, Memos, Evernote, SoundPaper HD to name a few) have the strong abilities that are BUILT for in-class/lecture note-taking as Noterize does.
Noterize incorporates the most amount of multitasking and ease.
First of all, in addition to note-taking, you don't have to quit the app and go to a drawing program since there are pen, pencil, sketch tools to add in drawings/diagrams right next to your text. Not to mention labeling, post-its, highlighting text you've typed, changing font size, uploading/adding pics from Photos app, etc.
It records the lecture (through the iPad microphone) and matches the notes typed at a moment with the professor/speaker's speech at the same moment and syncs it for you.
Then, just when you think that's all you need, the UI can flip over with a touch of a button and autosave your file, suddenly showing a Google.com with the address bar... it's a built-in Safari in the app! Surf the web freely... then press that button on the corner and get back to your notes, right where you left off, after you've completed your wikipedia research, in-Safari instant messaging, email check, etc. in the "built-in Safari".
So far, that's the most powerful, and packed note-taking experience I've gotten. Not advertising... just informing.