Is Google capable of spidering links like:

http://www.mysite.com/thispage.php#notes

?

Or are these type of links ignored?

yes it does
paste that url onto google and then see the results and youll see the link listed

Not quite what I meant. For starters, that link was supposed to be a fake example but looks like it actually goes somewhere. :P

What I mean to ask, is will Google spider both:

www.thesite.com/page.php#hello

and

www.thesite.com/page.php#nevermind

and be able to tell the difference?

All links are indexed. Even Database Queries.

I never see a link+bookmark listed in Google though.

I have a dynamic page, something like this:

http://www.testsite.com/notes.php?id=45

And I'm working on making it a static link, something like

http://www.testsite.com/notes/id/45

But, this screws up a lot of the html because of relative paths, so I had an idea maybe I could do something like this

http://www.testsite.com/notes.php#45

And the PHP would render the proper content based on the bookmark. But, how is Google going to treat this? If it comes across

http://www.testsite.com/notes.php#45

and then

http://www.testsite.com/notes.php#62

and each page is completely different, will Google see those as seperate pages or will it just see "notes.php" and cache whatever is the last link visited?

If that's the case, then it's a pointless project and I'm better off risking it with the sessions ID's.