storage is first. we digitized everything--including the regular printed photos. I culled ones that i no longer wanted or that were very redundant. For old photographs (from my childhood for example), there might be 50 photos of me at christmas in those PJs. I would choose the most iconic image, scan it, and dump the rest. i keep them on a thumb drive, so they aren't actually on a computer.
rotating art is probably the next place i would go. print out your favorites from the collection in color or black and white, and in a large size. get simple frames from a craft store or Ikea, and put up those images. Perhaps you have a plce where you have three images at a time--a collection of 3 in an entryway for example. Choose images seasonally, and switch them out each season. then the pictures rotate through.
i have a picture up now that i love--it's hawk in his first mud puddle, taken about a year ago. i also have a great picture from his first birthday, and then one from his birthday itself (his first photograph). of course, DS's birthday is soon, so it's a good choice.
I find that doing it seasonally is great: family photos from christmas past, easter photos in spring, back to school photos in autumn, photos from our wedding/honeymoon around our anniversary, birthday photos around birthdays, etc etc. Honestly, it's really fun AND you aren't saturated with photos.
I keep the ones not in use in a file (acid free) with the seasonal stuff for our nature table (which is just starting out here, i usually just collect from nature so that it can go back out to compost) and seasonal decorations. I try to keep this to one box, as we don't have a lot of storage, so simple things like these photos and things that can be stored flat are my favorites.
and it's cool, because if i decide i want a different photo, i just go to my thumb drive and away you go.