I'm an avid scrapbooker, and I learned a method of scrapbooking from a friend of mine that really works for me. Like you, I don't have a ton of time to devote to it, but I do enjoy putting our memories down on paper so my K. can enjoy looking at the scrapbooks one day.
The friend who taught me this is a Creative Memories consultant; you may want to look one up near you, as these ladies are incredibly helpful in teaching you how to do this!
For digital scrapbooking, there's a free program from Creative Memories called "Memory Maker" or something - anyway, I know a bunch of people who use it, and they do like it. You can also send your book to be printed through CM also.
For paper scrapbooking, I use a "power layout" system from Creative Memories. Basically it is a box containing plastic pages that you lay out (as if they were scrapbook pages). From there, you set the pictures you want to use on each page (BTW, crop the pictures first - just cut off any parts of the picture that aren't interesting), onto the page (this takes about an hour for a full length scrapbook), then go through and set whatever paper you'll use for each page, onto the page (takes about 20 minutes), then decide if you'll want to use any stickers, photo mounting paper, or whatever "extras" - and if so, throw those down onto the plastic pages as well. Then, stack 'em back into the box, last page on the bottom, first page on top. Okay! So in less than 2 hours, you laid out your scrapbook, and everything is loosely organized. Then, take the stuff you laid out for page 1, and actually stick it to the real scrapbook page in your scrapbook. Mount the photos to the paper, add the "extra" embellishments (leave room to write something about the pictures), and move on to the next page. In about 4 hours, you can have an entire scrapbook completely laid out and put together. Then, at your leisure, go back and journal the pages - write funny stories in there, or narrate what was happening in the different pictures. That will take some extra time, but no longer than digital scrapbooking to be sure. And THAT'S IT! Scrapbooking can be super easy, fun, and fast if you have the ability to get it organized. I scrapbooked for 5 years before my friend asked why I didn't use Power Layouts, and I'm telling you, now that I know how to do it, I'll never go back.
Anyway, I hope that helps you out, and if I can help, let me know! I know it can seem really overwhelming at first.