I really like composition notebooks. I like the size of them and how they feel in my hand. I like to write, keep notes, even visual journal in them (yes, the paper works just fine). But I don't like the cover, it bores me a bit. You can easily paint over them, and I have many times, but I also like to cover the notebooks with copies of my favorite journal spreads.
I use a liquid matte medium to adhere the images to the notebook. When dry I cover with a satin varnish. You can use mod-podge, but I find the matte medium works better for me and the varnish is not sticky like mod-podge sometimes is.
It's an easy and cheap way to create some fun notebooks.
Also don't forget to print some of your favorite journal pages to make cards to give. Even crops of your journal pages make interesting cards.
Oh, just a reminder that when you are using copies make sure they are printed on a laser printer not ink jet. Ink jet images will smear when you and a medium or varnish on them.