Jenn, you always have a resource! How do you stay on top of everything!!! Wish I could meet you!! I've been wondering about altered books myself - I saw a workshop on one at my local scrapbook store, but I can never seem to get a babysitter to attend.
This article was very helpful and I am a total book junkie, so this may be something I have to try.
My mother and I have done something similar - she is totally into miniatures (doll houses, room boxes etc) and her miniature club one year used books to make room boxes. They selected a book and used it as 2 walls and then put in a floor and decorated it in miniature to match the theme. I made a music room out of an old music book and decorated it with victorian furniture, a harpsichord and some other minis. Anyway, similar concept... now I'm going to have to try this - as soon as I find a place in Charlotte to find old books!