Here is the ideal set up:
Tablet PC
Notes provided by professor
Microsoft OneNote
External Mic.
In MS OneNote copy and paste the notes for that day's lecture. Click record. Highlight the notes as the professor covers them and write with the stylus to annotate and add to the notes. This gives 2 things. One: no click clacking on the keyboard - I find that annoying. 2. Every time your stylus touches the screen to annotate it bookmarks the audio recording to that place in the notes. In other words,, if the professor says something profound, instead of having to type/write it down and miss the thrust of the statement, simply make a short hand mark for later review and then transcribe it in full later.
I put all of this into play a couple of months ago in my first class for RTS Charlotte in John Frame's History of Philosophy and Christian Thought class and I couldn't have been happier with the results. Other students really liked the setup. Cool thing is that it is my work tablet so I'm not out any money. It is the IBM/Lenovo Thinkpad X61 tablet.
This also affords copying and pasting from esword/logos/bibleworks during the lecture as well.