Re: How does it compare
This is a tad more than a "touch only" system. The pen and the software behind it is the key to the system.
And the "killer app" for this type of unit has been around for quite some time:
OneNote
It is the "can use the cloud" notepad app. You do not want cloud - it does not need the cloud. Use a local (company run) Sharepoint instead.
As a long time sufferer of the Note (N7100(1) and Note 10.1(2)) I can tell you that they are nowhere near the capabilities of an Atom powered Windows system. Even MS Journal (included in the OS since at least Vista) beats SNote hands down and challenges Evernote. Same for the Handwriting-Recognition and the rest of the pen support, lightyears ahead of the Samsung stuff.
(1) I do not use touch only phones so sadly a Note is currently a "must use"
(2) Tried it as a replacement for a Win7 tablet pc for 6 month. Gladly went back to the x86 unit despite bigger weight/less endurance. Heck, I'd rather lug my company T902 around rather than the Note 10.1