Notation seems to be a Notational Velocity, or perhaps better, an nValt clone for windows. I came across it through a Brazilian Website´. While I cannot read Portuguese, I can make out enough of the text to see whether it talks of something that might be of interest to me. :) since my favorite program was also developed by someone in Brazil, I was interested in Notation right away.
I have not done much with it since downloading: imported my nValt notes from Dropbox (worked like a charm). I changed one of the entries, using Markdown syntax (also worked like a charm). Apparently, you can set up the application to sync with Simplenote by e-mail. I have not done that (yet).
One difference between nValt and Notation is that the Search box cannot be used to create a new entry. You use Winkey + N. Purists might mind this, I don't.
The help file is very rudimentary and information about the program can only be found through the "About" entry.
This is a very promising application. What keeps me from using it? Apart from the fact that I really don not need another note-taking application, I cannot figure out where Notation stores its files.