I am sure I am gonna get pounded for not knowing the technical intracies of multitasking in Android, but take a look at this...

http://www.onskreen.com/cornerstone/

In the gingerbread demo the guy has 3 apps on screen and is reading email/pictures while a youtube is going on in the bkground...

target is tablets, but wonder if it will work on something big like the galaxy note...