It would make OneNote 100% better, possibly becoming the awesomest program I've ever used. (If anybody knows how to do any sort of scripting/macros in OneNote please please please let me know about it. My only complaint is that there isn't a scripting engine behind it, so I can't make macros. I usually don't feel so strongly about Microsoft products, but I really feel like they got it right with this one.
I actually bought Office 2007 for my home PC, mostly so that I'd have the latest OneNote and would be able to use it for my personal stuff (including D&D). I started using OneNote at work becuase the IT department had pre-installed it on my PC and I was curious, but once I started using it I just fell in love.