I was seriously interested in PenPoint, but it was too early for tablet PCs to succeed. Handwriting recognition was nowhere near mature enough yet and unfortunately that became the main issue in that niche. Even Apple pretty much failed with the Newton because of it.
But PenPoint had a lovely UI and, if memory serves, an API much like Apple's Objective C.
Microsoft had a hand in killing PenPoint, just as they did with BeOs. Jerry Kaplan told the story in his book "Startup".