There are a ton of note-taking apps for the iPad, since the portable hands-on device is so analogous to the traditional pen and notepad. Many of these apps also allow a way to record audio in the background as you take notes. Audiolio (US$2.99) looks at taking notes in another way, providing written bookmarks and annotation to audio recordings.
I had a chance to try out Audiolio this past weekend on the new iPad, and it turns out that it's a pretty useful tool for a number of things -- taking written notes while somebody is lecturing or talking, doing the same while critiquing music, grabbing notes during the taping of an audio podcast, and more. While other apps can do this, I like the "bookmark" method that Audiolio uses.
In the example images in the gallery, you can see how an Audiolio workflow takes place. Basically, you start a new recording and begin taking notes. At any time, you can add a new bookmark by tapping the bookmark icon in the far right top corner of the user interface. The recording can be paused and restarted at any point by tapping an easy-to-see button, perfect for those times when it's necessary to pause a meeting for a bio-break or because an argument has broken out.