ResophNotes now can do everything Notational Velocity can do. The newest "improvement" is the ability to save the entries to text files in a directory of your choice.
I don't use it as my main repository for notes, but as a way to store snippets of text that I need just for the moment and reminders on all my computers and my iPod Touch. It allows me to take notes on the Touch while away from home or the office as well. In other words, I use it as would have used pen(cil) and paper for notes and reminders.