I vote for Timothy McSweeney's Internet Tendency.
I like this online journal because it amuses me. And usually that's enough, as far as I'm concerned. The Open Letters are particularly enjoyable.
Really, though, the fact that this journal doesn't take itself too seriously is very inviting. I mean, I would definitely submit something to this journal. It's not just about being published; I want to like the journals that (hopefully) publish me, too. This site is interesting and provides one with entertainment, nifty links to other sites, and the hope that there is room in the world for ridiculous people.