Noteslate was promised to be released a long time ago. There seems to be a prototype now. The promise is: it will be "the first pure handwriting device. A device for the Slate platform, a handwritten network for sharing. Discover the potential and simplicity of a monochrome handwriting interface. More personal. More human technology than ever before. Started from the basics" (whatever that means).
It's also supposed to be an e-reader that allows you to annotate the books you read in it, there is nothing about character recognition on the Website, however.
Noteslate looks like an interesting product, even if there is lot of hype. I would pay $199 only if it could translate hand writing into digital text. And I hope it won't just be another Boogie Board Ripoff.