What do you think of self-appraisal and performance journals in the workplace?

Where I work, we have to do regular self-appraisals and maintain a performance journal, recording what we’ve accomplished in connection with “goals” management has set. What’s your view on this? Does it matter? And how do you feel about talking about yourself so much? Is it better to just do a good job and get marked results or do you have to (or should you have to?) put people on notice that you’re doing your job well?