When it comes to LJ-clones, my two major contenders are CommieJournal and LostJournal, both of which are nice. I'd considered DeadJournal, but it's just got a really mean attitude. GreatestJournal is okay, but, meh. InsaneJournal is ... bad. My other major contender is WordPress, but there are a few huge problems with it that will probably keep me from ever using it for journaling as opposed to blogging (lack of filters being the biggest.)
CommieJournal is definitely faster than LoJo, but there are some major problems. I'm not going to be too hard on anyone because I realize this is an out-of-pocket experiment by a couple of people on fixed incomes. However, I have to be somewhat pragmatic when deciding on a new "home," as it were, and there are some things that are definitely bothersome.
First off, very few of the journal styles actually work. Bloggish and Style Contest, which contain my favorite themes, will not render appropraitely. I know it's not my browser or computer because they render find when using those exact themes on LJ or LoJo or GJ or IJ; it's definitely a server-side error. That's obviously a huge problem because a lot of my custom CSS is built on those layouts.
Next, a lot of the links simply don't work. I realized this when I was attempting to set the default security of my journal. I actually can't because that page (viewing options) ... doesn't work. Also, I had to fish through LJ links to figure out where the page might be for setting up friends filters, since the page that would normally have a link to it... doesn't. And I noticed while browsing user-info pages that if you click the active link "account type," it will take you to a totally unrelated FAQ.
LoJo is smaller, but I get the impression that the userbase is actually about the same size and somewhat more active. It also seems closer knit. That can work for and against a site - for it in that it inspires loyalt, but against in that it can lend to it a sort of cliquish nature that isn't easily broken into. We'll have to see.
In some ways, LoJo feels like coming home to LJ 2002, which is kind of nice.