I don't really keep a journal but I do have a notebook with some of my quilts and their respective notes. All the match calculations for one; block sizes; numbers of each block needed; etc. Most times the recipient.
I sometimes do a BOM quilt from my LQS. The shop owner uses a loose-leaf binder as her 'journal'. She keeps small (1" square) piece of each fabric; all the instruction sheets for each class/month; etc. I'm sure she records fabric lines, etc. as well. If I were actually going to do something along the lines of a quilt journal, I like the idea of a loose leaf binder. Room for expansion as well as easily being able to label the spine of the binder with what it is, etc. Then again, I'm a binder kinda gal...use them for all sorts of record keeping.