I carry my old (well not THAT old!!!) Palm m505 with me everywhere and wonder whether I should have all my "stuff" together on paper for my weekly reviews and duplicate most of it onto the Palm, or the other way around; have ALL the "stuff", one idea per piece of paper in the paper system with what's applicable on the Palm.
I've got my Palm set up as David suggests, i.e. the Tasks button has @subjects for contexted next-actions related to projects, then Projects and Someday/Maybe files.
Memos is used for lists.
The argument for paper is it feels good to have something "real" in my hand when doing the review.
The PDA argument is that I can do partial reviews anywhere and the "official" review when I'm at my office and can look at supporting materials duplicated in the paper system.
'Though I like gadgets, I'm not a gadget freak and don't want to use the Palm dominant approach just 'cause I've got it if the Paper dominant approach is better.