What to do with Christmas card pics

We love getting Christmas cards with photos from friends (especially when they include pics of the parents, and not just the kids...) and every year, we joyfully post them all up in our home. But what to do with them afterwards? Some may make the fridge, but these days, that's valuable real estate for kid art...
I saw this idea on pinterest (totally not taking credit for it)... Collect each year's stack and punch holes in them, bind them with book rings and make yourself an easy coffee table book to bring out with the decorations next year. What's better than a book of your favorite people's smiling faces (and their kids, too)???
For ours, I've managed to dig up a few from years past and put our family card on the front for the year it represents. This makes me so happy because I just love holiday cards and how else can I keep and enjoy them???