I honestly wouldn't worry about it - I am in the middle of repairing my dad's scrapbooks which are 40+ years old and nothing is archivally safe, and for the most part everything is fine.
The adhesive is important - the sellotape dad used has done terrible damage, and the photo's in magnetic albums are yellowed - but things like maps, menus, programs etc which he has put in with his photo's don't appear to have caused any problems and he hasn't used any page protectors or anything like that. Even things like newspaper cuttings which are very high in acid/lignin have been ok in my dad's oldest scrapbooks (which are not magnetic but more like a construction paper style) - Personally, looking at the state of dad's scrapbooks, I am mostly concerned about adhesives and journalling - I think if you combine safe adhesive with a safe album, then you will be 90% of the way there.
as for your questions
What do you mean by buffering,
Buffered paper is supposed to stop any acid in your memorbilia from transferring to your paper and eventually to your photos - CM paper is buffered - it's not really something I worry about, but it depends on how concerned you are
what is lignin free (I always look for acid free but this is new to me)
Lignin is a natural substance found in tree pulp that causes paper to turn brown (much like newsprint will turn yellow and then brown over time). (from the CM website)
and what is archival mist?!
this is a very expensive product (IMHO) that can be sprayed on non acid-free items to neutralise them and make them safe - it's particularly good for newsprint which doesn't keep very well - but I find it very pricey - so I tend to live with the risks, and scan anything really important.