I used a smash book for my future daughter-in-law's autograph book when she had her 30th birthday party. i put out various embellies, pens, adhesives and a instax camera and the party goers went wild. She was very pleased with the results.
I like the party/autograph book idea!
I did one for a big trip we took to New Zealand this last winter. I embellished and decorated some pages, added pockets etc. before we went.
I journalled in it while we were there. I jotted down cute stories of my son and his impressions of things. I added brochures of places we visited to the pockets etc.
I left spots to add photos once we got home and I got everything printed.
I'm glad I did it! It will really helped to remember everything when it comes to doing layouts of our trip.
I don't think I will use one in everyday life, though. I do think that they are cool for special occasions/trips etc....