Is it possible to go paperless for work and education?

Has anyone successfully gone from reading printed journal papers (including highlighting points) to soft copy pdf based reading and highlighting in a tablet? Is a tablet a viable solution or still cannot replace paper and highlighter? Aside ease of highlighting, I would also like to know if there is any eye strain reading text on the tablet. (At the rate of my paper consumption, I can afford to buy a tablet within 2 years).

Next question, to galaxy note owners, does the pen really work for jotting down text or more of a gimmick? There is no way I can swype fast enough to jot down text in meetings and still rely on pen and paper. I still want to write things, doodle, draw chart flows etc. Cannot spend time typing nicely on keyboard/touch screen keyboard as I also need to be active in the meeting. Also with papers, you can refer back to the previous pages easily and can add more stuff. A tablet is stuck in one page at a time which makes backtracking slightly hard.

I am only looking at Android and Windows 8 based tablet, since most of my work is either tied with Windows and my organiser, emails etc is tied with google. I am working in the university. Some of the meeting agendas are given as Pdf documents, and they expect you to print it yourself and bring it to meetings. Then there is a part where you need to jot down material as well. I can see the tablet working for the agenda part, but then since its fixed in one document, I need somewhere to write down info as well.

Or is the current technology is not there yet to go paperless completely?