I got a hands on experience with the Note at Vivo City mall here:
http://www.youtube.com/watch?v=wDWVmTYaCso
it is as big as the original Dell Streak but way lighter (lighter than my HTC sensation and iphone 4) not as unwiedly as I thought it would. For a big person as myself this phone seems a good choice. I have already reserved one unit at the store when it comes out late this month or early December.
As for those who ask why add a pen? well some people like myself love to write and sketch. Annotation is also a handy feature to have at a moments notice. This is also one of the reasons why I bought an HTC flyer instead of another iPad.