The idea is a person could order a "real journal" of their livejournal. I'm not talking just a printout. I'm talking about a really nice bound journal.
A program could be written that formats the entries so a person could have choices such as:
Include comments or not
Include photos or not
Color or B&W for the photos (choices such as this would affect price)
Have each new entry be a new page
There could be a whole store on lj where a person could choose different covers/bindings. Most stationary stores sell high-end blank journals for $50.+. I'd pay good money to get my journal printed nicely on nice paper in a nice leather journal, and I think a lot of other people would also.
P.S. Regarding the prior post, I'd buy an LJ coffee mug in a second.