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I finally found something that actually helped me transcribe notes online.
If you want a pure text note taking solution that is absurdly quick, barebones, and focuses on data entry check out www.ayenotes.com for taking notes online.
AyeNotes was wired for text only notes - sort of the use you describe in your article. Its key feature is that it provides clips for frequently used strings. These can be templates you type, terms you use (action items, research, etc.), or it can be programmer-esque things like HTML and Markdown.
The site also autosaves the work and provides keystroke. If you have the site remember the login, everytime you go to www.ayenotes.com to take notes online you are dropped right into the new note screen. To get your data out, you can email or download the note in multimarkdown format.