Why bother with setting up multiple physical libraries when you could get the same result by using virtual libraries? One friend of mine using a genre tags to separate his VLs (some of his tags are SciFi, Mathematics, Cooking, Biography and Mystery). Basically his virtual libraries are based on a search for one of those tags.
See
Virtual Libraries for more information.
The only two physical libraries I use are Intake where I import books, clean up metadata and any editing that the books need and Main where books are moved to from Intake.