Apart from AOL Journals, AOL Hometown will also be sunset (quoting the euphemism from AOL bigwig Kevin Conroy on July 25. AOL Hometown, a rather outmoded piece of FTP (storage) space is used / can be used for putting your pics, rev-counter etc. You will lose that on November 1st, if you don't save everything first.
AOL Pictures will meet a similar fate, and please be warned that NOTHING is being done for your pictures. The AOL pictures blog has not been updated since summer 2007, and there is no word on their website. You may well find all your pictures gone by November 1st as well - that's not official, but my personal assessment
In all fairness, at least our journalseditor is trying to make the best of a bad situation. It's still crap though.