If you use an aggregator which supports RSS to keep up with websites and blogs, you can subscribe to your LJ Friends page. You can already do this for individual journals (ie. http://www.livejournal.com/users/deus_x/data/rss), but to do this for all of your friends at once, you need a little trick.
And here it is:
Replace 'deus_x' with your username, and you can use that URL to subscribe to your friends page as a feed in your aggregator. What this does is use a custom LJ template I made for your friends page which just happens to be in RSS format. I'm not sure, but this may only work for paid users, and the feed will not contain protected / friends-only entries.
To get all the entries in your friends page, including protected ones, you need a bit more technology. In particular, you need a CGI script which automatically logs into LJ under your account in order to be given permission to see everything available to you. The one I use is described here: lj_friends.cgi
This auto-login script requires that you have your own web hosting that allows you to use CGIs, and you should have the nerdosity to install and run such beasties.
Share and enjoy!