I worked for Livescribe from 2008 to 2010. The author of this article describes the Nuwa Pen as a "game-changer" but, as others have pointed out in this thread, other products have done the same thing for a long time. Livescribe's pens captured both handwriting and audio, which was great for meetings and lectures. For a while they also supported an app ecosystem, though the apps' usefulness was never successfully demonstrated to be more than a gimmick.

I still believe there is a niche where a product like this would be very much at home, but Livescribe's smartpens in particular were undone by a combination of bad internal decisions combined with a market that changed from underneath them. Who knows, maybe the Nuwa Pen will be able to target that niche market more successfully. I could certainly find a use for one, given the right combination of price/features.