Geek Pad provides programming, engineering and science students paper with a subtle grid to help organize notes and draw graphs. I don’t exactly see this as revolutionary as the web site claims, but you might find it useful. Plus I like that it was created by a college junior pursuing a B.S. in electronics engineering.
Related: Reusable Paper – Students Create “Disappearing” Nail Polish – Easy File Sync Over the Internet

Just looks like paper to me.
Maybe its a ‘gadget’ you have to see to understand.. Who knows?