If you are using 2017 or later then I think text notes is a better choice. There are some improvements such as adding space between numbered paragraphs without append a number in front of the blank line, or add sub-paragraphs with different numbering and indentation, or the text note actually stay within the border unlike in previous version.
It is not perfect, heck it is not even as good as text editing in AutoCAD. But I think the improvements are a step toward the right direction.
Regarding key schedule, I have used it a lot and still using it. The biggest beef is that it is terrible with long paragraphs. I usually have to edit the text in notepad or Word then copy to each cell. Another drawback is no sub-paragraphs, when I need them I have to break the schedule and insert another schedule in the gap.
Below is an example of text notes in 2017.
