You might want to take a look at what Agilix is doing with their GoBinder application for the Tablet PC and synchronization to the Blackboard server. While it's not in wide use, it's a pretty complete solution for delivering curriculum materials and assignments electronically. The Student Tablet PC blog is also a great resource for those in academia who want to see some advanced uses for the Tablet PC in that environment.

Personally, I would love to see Microsoft make a bold move in this space. They'd need a better DRM solution than the one they use for Reader and ebooks though. That's so broken it's not funny.