I'm surprised no one has mentioned using tablet PC's for note taking yet. Having a traditional laptop open can create a physical barrier between you and the people with whom you are talking (especially if they are not also using a laptop). In addition, typing requires two hands (hopefully), which engages more of your brain. It is harder to retain what is being discussed if you are constantly typing away. This is why many people prefer paper and pen for taking notes. However, many there are many benefits to having your notes in digital format, easy sharing and faster searching prominent among them.
Taking digital notes on a Tablet PC gives me the best of both worlds. I use Microsoft OneNote (which is an awesome program if you've never used it) and write away. Having the laptop in tablet mode eliminates the physical barrier normally associated with laptops. You're only writing with one hand, so you're better able to listen (and able to make more eye contact). If it's a large meeting, many people probably won't even know you're on a computer. OneNote even has an amazing audio recording feature which allows you to record the meeting and view the exactly what was being said as you wrote a specific note. You can even add flags to your notes to designate follow-up items, important points, dates, etc. Finally, you can share your notes with your teammates during or after the meeting. There is great integration with Outlook for creating calendar items, tasks, or emailing someone on the spot.
Anyway, I didn't mean to sound like a shill for Microsoft, but OneNote and Tablet PC's has really transformed how I take notes. It gives me the best of both paper and digital note taking.