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Though digital pens never really took off, the Livescribe Pulse pen combines voice recording and an infrared camera which is an ideal solution for graduate students. Why? Because for post-graduate study, this allows you to write and take notes for your masters degree -- notably a particularly difficult qualification to attain.
Included is a USB connector, to connect to your Mac or PC, and has an in-built speaker so you can write away and covertly record (if your lecturer wants to cite intellectual property rights -- pah!). All in all, it's does the job for quite a cheap price -- with over 200 hours of recording and takes high-definition infrared camera images (over 70 a second).
Available at: Amazon.com for $79.99