Example mock-up based on current Journal (0.84) using two lines for title and tags per each entry. Notes: Entries with no tags have their title vertically centred to keep visual balance; entries with more tags than can be displayed end with an ellipsis, this could just be indicative that there are more tags, or have hover hint function showing the remaining un-displayed tags. Clicking a tag should add it to the search field to allow drilling down into results.
CSA: If you incorporate ordered tags, based on filesystem paths, they could look like this:
See Gary Martin's mockups, such as this:
GMail-style tag view
Tags drag-and-drop-able from a left-side palette.
GMail-inspired Journal mockup.