Allow collapsing of paragraphs
It would be great to collapse paragraphs
This is already functionality in OneNote 2010. You don't need to create bullet points, the mouse turns into a cross hatching just to the left of the paragraph line and you can double click it to collapse it. This is very nice!
If you don't mind putting temporary bullet points in you can do this already - make it into an outline. I use this for all my essays and then just remove the bullet points when I've finished.