Well, it's useful, but there are quite a few products out there that already provide this sort of "smart" journaling... I own the mac version of
this one, myself.
If you're just supposed to specify what a smart journaling system would do, that's doable by early June. But actually writing and testing software is another matter. You might pick one aspect of the online experience that's media related and ask yourself: what special journaling, search, and information handling capabilities would a person who uses Facebook and Myspace find useful? Or pick your favorite online multimedia site. I like viewing move trailers, and it would be nice if I had a way of organizing my movie information for easy access: movies I've watched, movies I'd like to watch, trailers, other information. Narrowing the problem down to one type of multimedia will make it easier to define the project, I suspect.
Vasily