Livejournal's memories feature is in an odd state right now. It was implemented before the Technocrati-style tags, but had a tagging system all of it's own. So now users -- provided that they even notice the memory icons everywhere! -- only really have to 'memorize' entries made by other users, because they can already tag their own entries and can also toss in a "memories" tag, if they wanted. So, memories are only really useful as a way to tag other people's entries! How sorry is that? Poor Memory filter page. Poor feature-forgetting and confused LJ users.
Come to think of it, things have really changed since Livejournal launched. The invite system was opened up, so any Earthling* with the want to do so can open a Livejournal. I notice a lot of folks getting multiple journals, which muddies things. We already have journal names and usernames, why not break it up so we have a username and profile, and open up journals and communities under those? At the very least, that would extend a user's options, and we have cleaner databases.
While discussing this, cgranade, who has a working knowledge of coding, pointed out an interesting way in which LJ could, instead of serving everything out HTML, the content we would create could be turned into whatever as -- look, I don't fully get it, but it sounded great, so I thought I would mention it. Reading this over my shoulder, he said it was XLST.
*Well, I guess non-Terrans could theoretically get Internet access, and therefore have the ability to open a Livejournal, and they're openly invited.