Well, here's what I've decided to do:
1. Make a mailing list, because I have gotten emails from people who do not have LJs and, furthermore, don't want them. I'll probably put a link to this on Short Attention Span Theater.
2. Make a community where only I can post. I bring you: m15m. I'll probably copy the existing movies over there, because right now it's just tumbleweed bouncing by occasionally.
I'm surprised by how many people like the non-Fifteen Minutes entries on my journal. And yes, I have been told I have a boring journal, and that I natter too much about writing and school. There was a review community that turned my journal down, for example. Which is fine. I'm just saying, I will totally not be surprised or offended if people unfriend this journal and go join the community only, because life is too short to read about some random girl's thesis woes if you're not interested.
Speaking of which: No, I don't read my entire friends list. In fact, I haven't read anyone on my friends list in about two weeks, which makes me sad, because I really like keeping up with my core group. The not-keeping-up has mostly been because I've been swamped with site updates and comment-reading and writing and what have you. Ideally, I would keep up with the people I knew well, and keep up with the comments in my own journal and reply to more of those, and if someone said something particularly interesting I'd go check out their journal. And I have browsed my f-list at large a few times--it's a little like reading the Friends of Friends function. So... no, I haven't tried to read everyone, but I'd like to try to read more, at the very least.
All in all, the community thing is a good thing, because I was getting really nervous about people reading the Fifteen Minutes who I didn't really want wandering into the rest of my journal (professors, family members, etc.). So, thanks to your suggestions, now I have a separate place for that, which is basically like a journal but with a larger friending capacity, and all is well. I knew y'all would be good for something. :)