According to PCMagazine, you can collect web clippings, pictures or drag any portion of a Web page to OneNote 2007 page – it preserves the selection and also attribute it so you can find the source again or refer to it in your project.
The text in the Web page snippets can be reformatted to fit the needs of your output document.
A much better solution than HP Smart Print. OneNote 2007 also has screen-capture capability, voice recording, screen sharing (electronic whiteboard), and blog-posting support.