I use both paper and a tablet dependant on the circumstances.

I take pen and paper to meetings as you never know when you need to sketch/doodle out a concept to elaborate. This usually gets carted around in my black folder. Actions arising and key decisions then get emailed out to all attendees so that nobody can argue after the fact.

The tablet with evernotes comes out in a more structured setting where I'm taking notes and having ideas as somebody else is speaking. This is a great way of keeping things portable and being able to hop on to people's sites and stuff as they're talking. I've got an asus eeePAD Transformer which has it's own docking station/keyboard which makes it great for the intensive typing if it's needed.