While I'm not inclined to put too much stock into rumors, I'd be sad if LJ closed down shop—although at the same time I don't feel that the world would end if it did. But I did decide that it has been too long since I made a complete back-up of my blog. Rectified now.
In case anyone else is casting about for a good archiving application for their LJ, lemme recommend LJArchive (downloadable from SourceForce). While it seems that it's no longer being supported or upgraded, it's free and a pretty elegant little bit of software. It archives comments as well as posts, synchronizes smoothly, and does its job quickly and easily.