Taking notes with itouch/iPhone?

Can anyone please help me out with two major questions about the iTouch/iphone for use as a student aide?
After reading the numerous posts favoring the iTouch, I just purchased a 16GB 2nd generation.
Now I remember I read somewhere that with the help of a "stylus pen" and an app you can take notes in class and save them as documents. Did I read right? Does this option exist? I would love to be able to jot down some notes by hand instead of typing them.
The second thing is what is the best app(apps) for organizing your life? Calendar, birthday reminders, ability to sync with PC...... As of now I am still using the old fashioned paper planner. I want to start inputing all my data on my PC so that I can sync with the iTouch once I receive it sometime in the next week or so. I have Windows XP Pro with Outlook 2003 (which I think would be convenient) on my PC and Vista 64bit with Internet Explorer 7 (no Outlook as far as I know) on my laptop. I heard someone talk about Windows Live, or something like that for Vista. What do you guys suggest?
Thank you in advance for all and any suggestions. I am just starting on this iTouch adventure and I figured I should ask the "veterans".
RoxanneBB