I like your idea!
As for printing, there are oodles of free font sites available, so you can pretty much get any font you want. And I use typed journaling on many of my pages--I just run cardstock through my printer so the paper/colors and everything still match my page. With typed journaling, you could always go back and edit it and reprint and put that in your album if you needed to at a later date.
The tab idea is a good one...especially since you're adding some each year.
Since you are wanting this album to keep for years and years, make sure your supplies are acid-free. (If you buy stuff in the scrapbook department it should be clearly labeled on it.) Don't use things like Scotch tape, regular old rubber cement etc.--I'm sure you've seen books where the tape yellows and falls apart and where pictures are starting to disintegrate also. This goes for your album, papers, and adhesives (and any embellishments you may add).