I also like having a floating scratch pad in front of all windows... but with opacity control. When the scratch pad is not active, the opacity automatically shifts to something low, like 20% so that it's position can be seen on my desktop monitor, but see through enough that the underlying app/window is still visible. Then when I mouse over the scratch pad window, or start typing in it, the opacity goes back to 100%.
Also, I would like to be able to create multiple (tabbed) scratch pad notes. I am constantly jotting down quick notes/tasks/reminders (on scratch paper) throughout my day, that I don't want to give much thought to in the moment. I then come back to my list of scratch notes later in the day (or next day), when I have time to process them more thoroughly.
And please remove the text amount limit.