Do not capture what you can't eat! Try the information diet. You do not have to be the Wikipedia.
Sounds to me like your Processing step might need some refining. When you process, you evaluate each item and decide whether or not it gets your attention now (plus some other stuff, but that's the essence).
Some stuff gets filed away for reference: this can include ideas and material for a given project, so you keep all of your Project A materials together, for example. Some stuff creates a single Next Action, some stuff goes on your Someday/Maybe list because you can't or don't want to work on it now.
And as The David says, it's easy to implement GTD: it's just a bunch of lists. You'll have an Active Projects list, which simply contains the names of all your works-in-progress; a Someday/Maybe list, which contains all the ideas, potential projects, and harebrained schemes that you're not working on; a Waiting For list, which holds the names of projects where you're waiting for someone else to do something before you can continue working on those projects; and one or more Next Action (also known as Context) lists. Plus optionals like the Stuff To Read list.
That means that when you review, you just need to cast your eye down the Active Projects list, and make sure that you've got at least one Next Action for each AP, and maybe once a month look at your Someday/Maybe list to see if there's anything that can be moved from there into Active Projects, or dropped altogether.
Just lists, that's all. You don't need to review all the project support materials every time, and you wouldn't want to: that probably deserves its own segment of project planning time.
One of the benefits here is learning how much work you're actually letting yourself in for. Another is becoming aware of project slippage - often this happens because of inadequately-defined NAs, because we're more likely to do something simple and one-step than something complicated.
Thank you to everyone who tool their time in answering my query.