I have made a few digital scrapbooks of our vacations. I love cutting and pasting too much to give up traditional scrapbooking, but I also didn't need a 10-inch thick album for each vacation in addition to my yearly family album. My bookshelves are at their limit!
I used the Creative Memories program and really liked it! It was easy to use and gave me enough control over changing paper color, shapes, etc. without giving me too many options to chose from. It wasn't cheap (not that traditional scrapbooking is either), but I felt the quality of the printing, paper and binding were well worth the cost. I love, love, love my *THIN* book that covers an entire vacation. (Oddly enough, my husband likes my traditional books better. I think he feels like he's getting his money's worth a little more with all the thickness! Ha!)
I have played around with some of the other programs, but just keep coming back to the Creative Memories program. I am about 99% of the way done with our trip to Yellowstone and I'm hoping with their bankruptcy restructuring that the quality doesn't change.
I'd be happy to answer questions about the CM program or take some pictures of the pages I've done if you are interested.