Essential!

Instead of fewer clicks, it could be faster and easier to manage clicks.

How about double tap on the same particular tool would close menu and would allow you to use that tool immediately.

As an alternative to your listed items 3 and 4 you would need fast double click on specific tool.

Great idea to line up the tools on the toolbar instead of inside a menu

FYI, while wrting (in pencil mode), you can always use your finger as eraser - I found this is quicker than clicking...

Yeah, I'd rather see all the tools lined up in the action bar.

You could get fewer clicks if we customize it by adding more items to the toolbar. I have space in my toolbar that could be used.

My idea:
Press tool, hold, drag to preferred tool, let go.
Easy and fast way of doing it.

Maybe you could have a settable default for each selection (ie if I choose eraser, it defaults to the regular eraser with a certain size. Then, if you want to change the eraser type/size, you could Long-Click on the eraser to bring up the next set of options.

Make it possible to erase anything by just scrumble on it with the pencil tool
For example you can check it on one note in thinkpad tablet.

Papyrus is really nice and fewer clicks when using would improve it even more!

Refer to app "write". Although it has poor interface but it's great to write with pen: easy to erase, ruled note, etc

I have Samsung Note 2. While writing with S Pen, I can use my finger to erase (which is only good to erase larger area), then continue to write with S Pen. However, I also find the need to have a eraser button at bottom tool bar so that I can have finer control to erase only the things I want to erase.

I usually use "Pen", "Selection" and "Eraser".

The toolbar as a whole could be reworked. Look at some apps like photshop and sketchup that do a marvelous job of minimizing a huge amount of tools while exposing those needed quickly.

YES!! Just switching between eraser and pen would be enough. It's common, and takes too many clicks right now.

PLEASE PLEASE PLEASE!

maybe an option to show the tools in an expanded or collapsed form? single direct button for each option would be great at times. Maybe per note option.

Yes!
-> At least "pen" and "eraser" should be accessible directly without any further clicks!

Add in a toolbox with pen settings that and colors that can be moved anywhere on the screen and disappears when writing or doing any activity.

agree

it is very annoying to switch between pen, eraser, shapes. if you would give each of them a single icon to switch, it would be muuuuuch more comfortable to use.