It feels similar to paper, and the stylus hasn't worn out in the year I've been using it, but it came with a spare.
It's slow, but I don't usually find it a problem, unless a client is there and waiting for information, then it's a bit embarrassing waiting for page changes to refresh.
The software is a bit limited, but I find it very usable for my applications within it's limitations.
It has a micro usb port to download your data, or I assume print it, I don't know as I don't need to do either.
Oh, it also has a switchable back light, and an on-screen keyboard that I rarely use, and one can store and read some ebooks with it, no sound, no Wi-fi.
The battery life is finally getting to where I need to charge it after a couple of days, instead of every week.
But yes, it's replaced pen and paper for my needs, and I'm just fine with that.