[pdftex] notes and watermarks in pdftex through hyperref?

[Peter Schröder]

In distiller I can make annotations in a file with the "Notes tool." Is
there a way to make notes like that directly in pdflatex? I see that
there is \pdfannot which I presume is what I am looking for. However, I
would prefer something that works both with latex/dvips and pdflatex
(such as provided by hyperref; though I can't seem to find something
like that in the hyperref that I have...).

Also I am trying to find a portable (between latex/dvips and pdflatex)
version of the DRAFT style underlay ("watermark"). Any suggestions or
examples?

I hope you will bear with me as I am making this transition... :)

Peter