Well I was playing around with digsby because a friend of mine doesn't like AIM and uses Trillian, but Trillian (unless you pay for pro) doesn't allow SMS. I'm loving digsby...it supports Jabber, too...which is what LJ Talk is based in. So if you have Jabber or wanna check out Digsby (I'm as lazy as they come when it comes to downloading and installing stuff, and I swear it's worth it.) then you can use LJ Talk. We could all IM each other!
Copy & Pasted from LiveJournal Help:
To connect to LJ Talk, select "Jabber" or "XMPP" as the type/protocol in your client's menu.
If it asks for "JID" or "Jabber ID" or "Jabber Address", use "firstname.lastname@example.org".
If it asks for both "Username" and "Server", use "YourLJUsername" and "livejournal.com".
Your password is your LiveJournal password.
If it asks for an optional "Connect Address" or "Alternate Connect Address", you can leave those fields blank. It will default to "livejournal.com", which is correct.