You have gotten some great answers. I too rarely buy fat quarters unless it is a great sale or a fabric that I will not use again. I usually buy 1/2 yard minimums and if the pattern calls for FQ's I have 2. I like to buy a yard maybe a yard and a half. If I really like it, I'll get 3 yards and If I really really like it I'll get more, 5-6 or finish the bold.
Like many others I store mine differently. All FQ's go into a couple rolling drawer units, everything 2 yards and under is folded one way and over 2 yards is folded another way. Pieces large enough for "backs" - over 6 yards are stored in a different place, though I will usually put a 1 yard piece of it with all my regular fabrics in case I want to use it in a quilt, I can see it.
It is all arranged by type, such as florals, holiday, batiks, and by color and size. I have built in cabinets to store most of my fabrics (though I do have a dozen of those large rubbermaids in the garage (about 10 feet from my sewing area) for what does not fit in my cabinets.
I have an addiction, I cannot stop buying fabrics. Tomorrow I will be going on the "Central Coast Quilt Run" with about 6 or 7 other of my friends and I will have to buy more fabrics, though I have no room to put them away. We will hit about 13 quilt shops in the next two days!!!!