One of the awesome things about Smashing is that you have one place for memorabilia that would normally get lost in a drawer, stored away in a box forever, or eventually tossed. I wish I had my school I.D.'s displayed in an album.
Announcements, ticket stubs, and invites can be tucked in with the stories which make them meaningful.
This is better than a journal- color and pictures nearly always makes the story more interesting. Certainly more vivid.
Smashing isn't anything 'new', but it does have a cooler sounding name than whatever my vintage journals (which has scraps of mementos included) of 30-40 years ago were called.