I'm currently working on (though the project's been in limbo for a little bit as my attentions were turned elsewhere) a UO Journal Magician, which is a journal convertor that will work with both the Classic Client and the Enhanced Client (even going so far as to back up the EC log files, since the EC overwrites them with each use).
Initially I'm working on having it do just basic filtering of the conversion. Once that's up and running completely, I do plan on other features such as HTML and things that can automatically format your journal for publication elsewhere.
I hope to have a public beta of the program out by the end of the month; faster if I can swing it.