I've been using log book pro for about 2-3 years now. When I realized how awesome it was, I completely stopped using a paper log book.
The reporting functions of the application are the most difficult part however. If you figure out how to get 2 sided page printing to work with whatever kind of printer you are using, you can get a really nice output.
I print landscape style, bind the pages on the short edge of a standard sheet of paper, and keep it in a regular ring binder. It looks very professional. I have interviewed with it and have had no negative comments about it. While it contains my every flight from when I started (I went back and entered all my data, its the best way really), I still brought along my originals because they have the checkride endorsements in them.
From my experience, the log book review has more to do with looking for those endorsements and seeing if you passed or failed checkrides. They don't care so much about the total time on the last page.