iOS 4.2 allows you to choose between three different fonts. If you like using other fonts families, BOLD, ITALIC, underlines, strike-outs AND COLOR in your iPhone Notes, you can.
I have tested this with MobileMe, but not with plain old iTunes syncing.
- Create a Note on your iPhone.
- Open the Note on your Mac and change the font's family, style, size or color.
- There is no step 3!
[crarko adds: I haven't tested this one.]

