I've considered this for some time... I decided that scanning at 150dpi was good enough to read the text without making the images too large. I just keep the images for each issue together in a directory structure. I've done some tests, and find that my OCR software doesn't really like the 150dpi scans, so I haven't really bothered to convert to any searchable form. I plan to make a database sometime... maybe. :-)
A friend of mine found a repairable scanner with autofeed. So I can just cut the spine off with a utility knife and steel ruler. Feed the stack thru once for the even pages, flip over for the odds. I wrote a little visual basic program to renumber the raw files up by 2 or down by 2 to put them in correct order.
My main reason for doing this was to save the space used up by all that paper. 20 CDs take up a lot less space than half a dozen milk crates. :-)