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The author pretty much nails why we use paper and what will be needed to get rid of it.

To me, the main thing is instant-on. I want to be able to grab my reader and start jotting notes or reading a page with zero noticeable delay. Once I can do that, I'll stop buying packs of little cardboard-backed pads of paper.

This submission encouraged me to dig up a New Yorker article I recalled that reported some interestng perspectives on this topic.

I've posted the article in this thread:

http://news.ycombinator.com/item?id=434516

I thought it was interesting enough to merit its own thread. I'm a bit surprised it hasn't appeared on HN previously (or so says google).