I don't cut my fabric until I'm ready to use it, either. I'm working on two quilts now - one made of 1.5" strips, and one paper pieced. I would have had to buy all new fabric for both of these if I had precut my stash, which is why I like to leave yardage intact until I've decided what to do with it.
To store my yardage neatly, I wrap it around comic book boards, creating little bolts. I can tell approximately how much there is by the thickness of the mini-bolt. The bolts stand nicely in a bookcase, and I have them sorted by colour so that I can easily see what I have.
I fold fat quarters all the same way, then store them in clear plastic shoe boxes, also sorted by colour. Since the boxes are clear(ish), I can also tell at a glance what I have.