I'm a hoarder and travel a great deal so keep all my ebooks (maybe 300?) on an SD card and add new ones as soon as I buy, download and "disinfect". The cards are also interchangeable between the two JBLs that my husband and I share, so we always have something to read no matter where we are.
I catalog books in folders, one to an author - only 2 levels, so they are easy to browse. Haven't had any problems with the speed of browsing or loading a new book, and even when repaginating (say after choosing a different size font or alignment) after the first few seconds one can read while the pages are re-loading in the background.
I will delete a book if I didn't enjoy it and don't intend to ever look at it again; but by and large, like bjkel, I am a re-reader and like to have my whole book collection at my fingertips.
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