Being a lazy person by nature, at least when it comes to things I do not care about, I always took outline style notes on a computer. I think the key to note taking is not necessarily the implement you use but rather how you take the notes. I found that any word processor that allows you to build a bullet list works just fine.

That being said, I can not tell you how many of my Law School classmates literally transcribed the entire lecture. Sometimes it was kind of nice though, because if I miss a class, I could borrow the notes from someone, read them, and take my notes based on that. I always tried to limit my notes to one typed page per hour (10 pint).

As a side hint, to any one who might be in school right now. I used to scan all of my books at the beginning of the semester into my computer. I had a little book scanner, and it would take about 1-1.5 hours per book, I would watch TV or listen to an audiobook while scanning. That way you don't have to drag heavy books around with you, and instead, you can have nice, searchable textbooks any time you need them, on your laptop. Of course, if you are less than honest, or just exceedingly poor, you could also borrow the books from the library rather then buy them. Of course, I could not recommend that as it would mean braking the law :)