I heard a little while back that either N-trig or Wacom was going to come out with a Stylus/app bundle that would work on Android tablets, basically giving those devices the same function as a tab with an active digitizer.
Have tried several....Most of them work for tapping, but none work all that well for drawing.
If you are looking to do page swipes for reading apps it might be OK in CM7 - the screen seems to be more responsive there. But still a no-go for drawing.