The specialty pens folks would like you to use in the shop get pretty amusing — take the Inka pen for instance. For $13 you can get the Inka Pen made from 304 stainless steel and carbon fiber with a pressurized ink cartridge (like those in the Fisher Space Pen), allowing the pen to write wet or dry at any angle or on rough wood. The integrated PDA stylus is just the equivalent of a laser. Are they serious? You could buy an entire box of square shop pencils for that.
A Viton o-ring seals up the closed pen (3.15″ long and 0.375″ diameter). If you’re in a hurry, you can just pull it apart and you have a stubby pen. When it’s fully assembled, it’s 5″ long. It fits the hand well, and the stainless gives it a nice heft.
For a crack-smoking $40, you can pick up the Inka Special Titanium version that weighs in at only 0.45 oz. Or again get a shop pencil that they often give out free at the local home center with the purchase of 50 cents or more.