I would also recommend a test library which contains particularly awkward author names to see the results.
I considered a
LN, FN file structure and even started to use one. But I found that calibre used a blank or comma at the end of the author's last name in the folder structure - which made finding things awkward for my purposes. There might have also been strangeness with complex names (ie, Smith-Johnson, Van de Camp, etc).
Between these two issues it made the
LN, FN structure unacceptable for my purposes. As I recall, I was having trouble finding folders (my process required some manual file copying - don't ask!

).
About the time that I realized this my HDD died and I had to rebuild anyway.