Being a cross platform sort of guy (haved moved around a lot between Windows, Linux and Mac) I don't rely on any one application to help me organize my photos.
So, I keep them organized by date. I have a top level folder called Photo Album, and one sub folder per year that I have photos for. For me, since I have a scanner and am fairly proficient with Photoshop (hence family members send me lots of vintage stuff to restore) I have folders going all the way back to 1922.
I keep a matching top level folder of "digital negatives" called Photo Negatives - the original unretouched file off the digital camera or off of the scanner, again organized by date.
On my Mac, these two folders live directly under the Pictures folder of my home folder.
Each photo gets named according to the date it was shot on and the topic. For example: "2007-04-06, Me Typing This Entry.jpg". I then cut and paste that title onto the title of the "digital negative" and add a title prefix that indicates the device that originated the shot. For example, in the above case, the digital negative from my EOS-30D gets titled "E-2007-04-06, Me Typing This Entry.jpg".
This may seem a bit of work on a per photo basis, but photo editing is a labor of love for me - I don't mind it at all.
And it means that at any time I see a photo that I like, and perhaps would like to process again, I can easily lay hands on the "negative" - same folder structure, same name... easy to find.
Thats how I do it!