I know a lot of people with LJ accounts. I read a few of 'em, all people I know in person or have met at some time in the past. But I also read their "friends" entries - and for the most part these are people I heve never met, perhaps people I have met once or am acquainted with.
I find it interesting / sad / amusing when a livejournal friends list blows up in an incestuous, positive feedback loop of opinion, venting, ranting, emotion, assumption, comments, snarks and slights (real or perceived). I'm watching one right now. Someone started talking about the merry christmas / happy holidays thing (pro-xmas, with a "please do not diminish my joy" slant) and got jumped on by non xtian friends. It's kind of ugly. Also mildly entertaining (since I know a few of the people involved and could have written the script ahead of time....)
Mostly, it's why I prefer a Blogger-ish thing to a LJ. I'd prefer my readers have to come actively find me. I'd prefer that my readers do not get the instantaneous option of reading what my friends and acquaintances are doing simultaneously and en-masse. I'd rather not write about a workshop or party or cultural event without having 2 or 3 other camera angles / perspectives right there, for the reader to see. I am not producing a documentary here or great art - this is just my little slice of the world, opinion and editorial. I'd like to say BLUE without having a chorus suggesting that it was really light blue or teal or periwinkle or You're color blind, you moron, it's red!
Connected. But not too connected.