I've been following the Note with interest as it is very similar in overall size as my Streak while gaining a little screen size. I'm not sure about the pen, I doubt I'll use it much. The 4x3 screen is a little odd in today's 16x9 market but I don't know if that will have any impact on my usage.
As for the size of 5"+ devices, you get used to it quickly, I can't imagine returning to a smaller device now. I'll grant you that this size is not for the small handed if you are a heavy phone user, though bluetooth solves that easily.
I, and most Streak owners, tend to use it in landscape orientation; a must for a screen this large. With the Thumb Keyboard app it is a joy to type on; often I will write email on it while sitting in front... (continues)
Unless I missed it, I didn't see anything in the review that discussed how well this phone would act as a tablet. I wouldn't mind its odd size if I knew that having it could make me forgo a separate tablet purchase.
I don't think it can in terms of overall functionality, but it could feasibly offer enough usefulness that someone who doesn't want two devices could skip buying a tablet. That would depend on each, individual person's needs though.
I'm not typically picky, but under Form and Usability, you say "Galaxy Nexus" at the top instead of "Galaxy Note." It threw me off for a bit, I thought you were referring another review you wrote for a moment.