Excellent! I was just wishing someone made something like this the other day after feeling that using Latex on Windows 7 was a subpar experience to what I was used to on Ubuntu.
Can you expand on what you thought was subpar about using Latex on Windows 7? I use Latex almost exclusively and for such an obscure (compared to Office) document publishing system, Latex has some pretty amazing tools available for Windows.
If you go the full IDE path you have TeXnicCenter, WinEdt, and LEd.
If you go text editor path you have your favorite editor to write the source and latexmk to automatically build when the source file changes.
Combine your favorite way of writing with MiKTex for the core program and package management and you have a bulletproof way of using Latex in Windows.
It's been my experience that taking notes on a computer in math classes is generally a bad idea. Even if you're able to capture all the necessary equations, there's no way you can embed diagrams on the fly, even with a good, dedicated editor. Though using the computer to take notes could certainly work in, say, a history course, I find that paper and pencil are still the best tools for the job of taking notes in math class.
Great idea, would be useful at uni for me because for some reason a lot of the time they have seemed to installed a latex specific editor, recommended latex, but not installed the compiler.
I was kind of hoping for something along the lines of LyX. Where you always see and edit a rough approximation of the document (jsMath might be useful for math display).