I love the binder with page protectors for recipes! I have two thick binders for my recipes, one is just dinners (alphabetically organized by category bean soups, casseroles, chilis, tempeh dishes... you get the idea). The other binder is for breakfasts, lunches, desserts, and side dishes (and is alphabetically organized by main ingredient, or the ingredient I am least likely to have on hand, if there are several main ingredients). I love this second binder the most... it is sooo terrific if I get a bunch of zucchini or blueberries or something on sale. I always have a bunch of easy recipe ideas ready to go for using them!
I think the binder system takes a little while to start (if you begin with tons of unorganized recipes like I did), but is pretty easy to keep up with (since you'll know right where the great recipe you just found in a magazine should go). I've been organizing my recipes this way for a few years now, and I couldn't imagine doing it any other way