After major changes to Google Calendar, Google has announced new features for Google Notebook.

-Sharing
Now, you can share your Google Notebook with a few friends and let them edit it alongside you.
-Improved drag and drop
Easily rearrange your notes by dragging and dropping them from one section to another (or even from one notebook to another
-Trash and undo
Now, when you delete a note, section or notebook, you can undo your action right away. You can also retrieve deletions from your Trash
-Google Notebook on your Google homepage
Access your notebooks on your Google Personalized Homepage by adding the Google Notebook gadget

Via Google Blog