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I've been more or less doing what zaniac's post described for a while, minus the smart playlists. As for sub-genres though, I do use those in conjunction with regular playlists.
Firstly, I store my tracks in monthly folders inside of an EDM folder. IE - 1101 (2011, January), 1102 (2011, February), etc. This keeps them in order by year and month. From there, I have genre playlists. Sometimes I'll have a song in several playlists. If it's a tribal track that has latin flavor to it and it's deep, it goes in all three of these lists. Then to keep it some what in order, the main "feel" of the track gets put in the comment area. If it mainly fits into a tribal genre, tribal is the first keyword. Then I keep going with that naming convention.
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+1 sobi
Im slowly introducing something similar to my workflow. eg, words or key words in the comments after the key. such as female vocals, wonky, rolling, punchy just to name a few. Just words I can relate to & associate with the tracks. (this is the hardest area trying to keep it consistent but)