It's a mixed bag IMO. Essentially Evernote is not S-pen enabled so handwriting with your fingertip vs S-Pen is indistinguishable (other than the fact that you can write better with a pen than a single finger). Also because it's not S-Pen enabled there is no pen-only mode (to reduce stray marks due to better palm rejection) and no pressure sensitivity to allow for more natural looking handwriting.
Placement of images into notes is limited and you can't resize them or move them around. Each time you alternate between putting an image inline with handwriting you're left with gaps between the various elements. Clunky.
That said, although S-Note is now integrated with Evernote it really is hamstrung by the fact that on other platforms there's no way to view your notes natively. On my macbook running the Evernote application I can view my Evernote notes that contain handwriting and images very easily, but S-Note notes open within the Evernote app appear too small as ugly, low resolution images that are practically unreadable on my retina display.