Moleskine is a free app that is actually a part of the Evernote family. If you are already an Evernote user, I would recommend trying this app out for yourself in an everyday situation. Try using it when taking notes during a meeting. Try using it to plan your writing in front of your students. Either way, I am a firm believer that if you want to see the application of technology in your classroom, you have to first be willing to be a user yourself.
Moleskine is basically a digital journal. You can have multiple notebooks with different types of paper. There are plain, lined, squares, and storyboard papers. You have pencils, paintbrushes, and pens to use, text that will fit anywhere (even on top of pictures), and you can import your own pictures.
The practical application that I see is that students can record multiple day events. Have them record a specific reading strategy. Have them import pictures of examples that they want to keep. Have them make a journal about the characters in your book. Whatever you did with a notebook, you can do here, and a little more. The added picture option makes it a tool that would give it a "one-up" on a traditional notebook.
If you try this application out for yourself, please take some time to let me know how you have found it to be useful.