i was running around like you. i had an enormous list of projects. some of them were of interest to me, some of theme were 'need' to do. i was using every moment to check off an item from the list. I had lots of interactive inputs from my directs, customers and non-directs And it helped me to get what i wanted. the only problem was burn out syndrome it caused. I had a flash of the obvious that could help. What I'm trying to do now is to focus more on the most important things. I prefer to have work and non-work hours (though I can plan them myself as a business owner). During work hours I'd focus on one to three most important work projects. Sure I can do some non-work related projects at that time but not as a rule. And GTD system with it's strong calendar and projects approach would notify me if I have any 'need to do' actions for that day.
So my suggestion would be to go for a focused project work having 2-3 of them for each focus area per week. Those are the projects that would give you the max payoff when done,fulfill your dreams, make you the happiest.All the rest should go to someday-maybe list. When those 2-3 are planned and done, you can go and do the nezt 3. Pay minimum attention to all the rest projetcs that are not yours (need-tos, have-tos etc) and try to minimize them, act on them as minimum as needed.For directs I keep a list of projetcs they run. As they also have tons I concentrate on the most important 5 when meeting them.