%>I need an environment in LaTeX (LaTeX2e or LaTeX209) to make "boxed"
%>important paragraph(s)....
% ( I had to % out a \prev below to make this work... - rags )

\newdimen\clearance   % space between box and internal text
\clearance0.50\baselineskip

\def\abovespace{\baselineskip}  % space above box
\def\belowspace{.5\baselineskip}  % space below box

\def\fullinterlineskip{\prevdepth\z@}%

\newenvironment{boxed}{%
 \par
 \addvspace{\abovespace}%
 \setbox\z@\vtop\bgroup
  \advance\hsize-\tw@\clearance
  \linewidth\hsize
  \vskip\clearance\vskip\z@skip\nointerlineskip
  }{%
  \par
  \removelastskip
  \ifdim\prevdepth>-\@m pt\vskip-\prevdepth\fi
  \vskip\clearance
  \egroup
 \nointerlineskip
 \vbox{%
  \hrule
%  \prev
  \hbox to\hsize{%
   \vrule
   \hskip\clearance
   \box\z@
   \hss
   \vrule
   }%
  \hrule
  }%
 \fullinterlineskip
 \addvspace{\belowspace}%
 }

%You will have to determine <\abovespace>, <\belowspace>, and <clearance> per
%your own preferences. You might also wish to modify the widths of the rules.
%Invoke it by:
%
%\begin{boxed}
%This is an important paragraph
%\end{boxed}

%Arthur Ogawa, TeX Consultants, Kaweah CA 93237-0051
%Ph: 209/561-4585, FAX: -4584
