I like the idea of 60 seconds meaning it's filed just fine. I have a root directory called "My Stuff" and underneath are folders for Writing, School, Photos, etc. I also use the @ symbol to float my most frequently accessed folders to the top--in this case, Writing and School (I should probably float Photos up, too).
In the computer, extensive hierarchy is a lot easier to manage than in a file drawer. So even though in my file drawer I have a straight A-Z file with no folders inside folders, on the computer, I employ a pretty thorough hierarchy, where a handout for a class might be under Academia > Term Spring 2012 > Cross Cultural Communication > Handouts. But I try to mirror the system so that a handout for another class would be under Academia > Term Spring 2012 > Other Class > Handouts.
Computers are just different beasts than file drawers, and although the same principle applies--file so that it could only be in two or three places, I think straight A-Z files don't make quite as much sense on the computer as they do in paper.