I was the note taker for a LONG time in my games when I had my laptop, and I didn't realize how disconnected it made me from everything. I was processing the information, but I was making it all narrative prose, and when the GM was slowing down to make sure I was getting all of the expository bits, it should have been a sign that it was going too far.
I have switched to using a mindmapping program on the iPhone, and now my notes are more organized, far less narrative, and I'm more engaged in the game than I was before the Laptop Years.
That said, it can still be a good tool if not being used as an escape from the game.