Ideally, no one makes mistakes and everything is well understood the first time around.

But in my experience: humans have errors (Ex: Notetaker writes down 1/2/2021 instead of 2/1/2021). Having a formal "last call" for record-changes is useful for catching these mistakes.

The aim of the prevention measure is to minimise mistakes or errors. I am not against a "last call", I don't want to get to the last call. Generally, we write a clear Action Item live on the screen - "Who does hat by When". The Action Items are locked during the meeting itself. If there are syntactic errors, these are corrected without a follow-up meeting as the intent during the meeting was clear.

In my entire management experience over multiple years, the "not well understood" part has never happened. If I were to guess, it could be due to the goal setting exercise at the beginning of a project. I, as a lead, sit down with the team and clearly outline "Roles and Responsibilities" and "Decision Making Processes". In addition, "Success Criteria" are set beforehand and are strongly linked to organisational goals (business or otherwise). Just to let you know, I work with domain experts across different unrelated industries including technology.

Can you say more about your dedicated note taker? Is this someone who personally attends meetings? Someone who gets a recording? Is this their full time position, or are they a EA?

Sure! This person attends the meeting and has the full responsibility to document Decisions and Action Items (Who does What by When). The person is the moderator of the meeting but not an individual contributor. The person has the full right to ask "Who is the Action Item for? By When will you finish the Action Item? What is the Decision we took?". All meetings are driven towards decision making and action items, no matter how small.

The role and responsibility of this person is clearly communicated to the team before the project. The person is aggressively coached before the project. In one case, live examples of note taking were provided with the note taker as a reticent participant of the meeting.