1. Within OneNote 12, find the page or paragraph that you would like to link to. If it is a paragraph, then right click the paragraph handle and choose Copy Hyperlink.

I can choose "OneNote" in the context menu in Outlook and create a new page in OneNote that is linked to the item. I did find a half way to do what I want.

OneNote has this annoying habit of automatically pasting source links into your notes. Here's how to stop that.

How to: Link Outlook and OneNote Eddie VanDerbeck at GottaBeMobile.com offers a short and sweet tip on using the new Outlook-OneNote integration.