I'm only in my 4th week of M1, but here's what I've experienced so far after attempting to try multiple notetaking methods (OneNote, Notability, Evernote, etc.).
Context: my school has a completely digital curriculum and utilizes blackboard, powerpoints and PDFs for everything. There is no paper. They also 'gave' us all an iPad Air 2. I also have a
Logitech Type + keyboard (cheaper through other websites at times), which I think is essential in making the iPad functional with any sort of typing/keyboarding. Here's my thoughts:
1. OneNote is great for organizing all of your lectures, syllabi, PDF's, etcetera but also lets you easily type your own notes on blank paper, separate of supplied materials. BUT, you cannot annotate powerpoint attachments.
2. Notability is great if you prefer to directly draw on powerpoints, but space is limited and you cannot create notes separately. I found the physical space constraint a huge factor. I don't use notability anymore. Plus, it's purely a notetaking tool and not a repository so even if I used it, I would still be uploading everything into OneNote.
3. Both apps allow you to 'free-write'/use a stylus but I found this too slow/sloppy in lecture to keep up.
4. I use Evernote for my personal life but the inability to add editable Powerpoints halted my use of the product. Plus, the interface on mobile devices is convoluted.
5. Notability allows recordings to be made but honestly, if your school offers recorded lectures (which almost everyone does), use that instead.
6. I own a macbook pro, ipad air and iphone 6 and can seamlessly sync all of my notes one OneNote and all of my textbooks with Ibook. I find it to be a great system. However, most programs allow syncing (mine is not unique, just an example).
Trust me, I've tried to avoid all things Microsoft for awhile (not trying to start a flame war) but I really do like OneNote compared to the other options available.
EDIT: OneNote, like all of these other apps, require a computer in order to add lectures, ppts, PDFs, Docs, etc. effectively. The iPad is great as a notetaking tool, but a laptop is still needed for the underlying functionality of manipulating OneNote, Evernote, etc.