The thread title is a bit misleading, as the app isn't converting handwriting or anything like that. However, I am very interested in a notes taking app and have bought many of these apps - this one seems to be best at recording what you're writing. Everything is in real-time - no lag at all - and it comes out very smooth.
If this app added this things, it would be perfect:
1) Ability to import a PDF to markup.
2) Better way to get notes off the iPad beyond email (GoodReader still has the gold standard solution here)
3) Options to change pen and paper color.