I agree with everyone else...you don't seem to even want the position, save for the resume bullet. Now if you think you will benefit yourself by using the position as a learning experience or will be applying to some clerkship/academic position in the future, then go for it.
Remember, there might be others on the Journal that aren't as set jobwise and others who would actually WANT the position.
Hm. How would I know if I WANT the position without hearing about all of the benefits? If I don't know if I want it yet, I'm not exactly sure how anyone else could come to the conclusion that I don't. And I thought I made it clear that it would absolutely NOT be for the resume bullet. I've got 15 years of work experience - I don't "need" another bullet. BUT if I could help shape the reputation of the school, do something of value for my fellow-students, continue to hone my leadership skills, it may be entirely worth it. If editor in chief is not a good opportunity to do those types of things (and it's been debated among my fellow staff members as to whether the position can actually accomplish these things), then is there a point, BESIDES having another bullet on my resume, to hold the position? I was just looking for a laundry list of benefits.
The issue is this - I'm tired. It's been a rough year for me. I've been through a lot personally, and I have to decide if really want a rest next year before I go head first into my career, or if I want to keep my foot on the gas pedal. I am sorry if I have not been clear, but I would be doing this for reasons entirely unrelated to building my resume. But if having the position cannot do something for me other than that, I really have to think twice about it.