I have written about Arc and Atoma several times before. I don't really use it, as I prefer real notebooks for my paper notes. But I am fascinated by the system. Here is an interesting post on how someone has just adopted the system and finds: "What I have now is an infinite, and almost perfect, notebook, in a beautiful and very functional cover. What’s even better is I still get to tinker. There’s nothing worse than finding something that’s so close to what you want, you can’t think of ways to improve it."
This sentiment expresses almost exactly how I think of my personal hypertext system! One of the good things about "personal hypertext" as compared with loose leafs is that it is much more difficult to lose any of the pages in personal hypertext. It is also infinitely better at cross referencing my information.