[0]: https://www.youtube.com/watch?v=SWY_bwFMxro&feature=youtu.be...
The conversion relies on some kind of cloud service (possibly Google's Cloud Vision API). So you need to be connected and there are privacy/security implications. And, it's very dependent on your handwriting. I cannot get coherent results with that feature, but my handwriting is as readable as base64-encoded Perl. I've seen it produce impressively good results when other people try it.
The process itself is indeed smooth, select an item in the menu and a few seconds later you have the text, which can then be emailed.
Just to make this bit clear: with effectively infinite number of pages. One would imagine that panning around infinitely large pages would be a possibility with a product like this, but the feature is not there.
The rM is best thought of as a pen and paper notebook, except of effectively infinite size. There are no apps. The UI (the only user-facing program) has minimal features, most of which are there just to mimic what you can do with an actual paper notebook. There are only a few exceptions, like being able to drag your notes/scribbles on the page. The device won't integrate with any 3rd party services, it doesn't have search, etc. If a physical notebook doesn't have it, then the rM probably also doesn't.
That definitely makes the rM a very niche device, but I'm getting great use out of mine, while I never managed to get much good use of an iPad.