There were some of you who asked to know, down the road, how it was working out and holding up. So far, so good ~ I love it and it does everything that I need it to do, and the sewn-together-page pockets are quite handy.
I did have to make a minor modification to the cover after one of the binder rings ripped out one of the punched holes. I picked up a metal eyelet kit at the fabric store and reinforced all the holes with eyelets. It was very easy to do and completely solved that problem...
If I were to make another, I would try to use a thicker book and leave the whole spine intact--like Farmgirl Cyn's. If you would like some inspiration, check out the amazing altered book that she made!