There are so many ways to sort. It gets overwhelming quickly and sometimes there isn't a clear "best" way, only what ends up working for you personally.
That said, I often try different methods (ruler fold vs comic board vs etc) to see if one works better for me. So far I haven't settled on one that makes me feel really organized.
I keep fqs folded as purchased, ruler fold 1/2 yds, wrap anything 1-6 yds on comic book boards, and keep anything more than 6 yards on bolts. Odd sizes (partial fqs, 3/4 yds, long 1/4 yds, etc give me problems). I'm nothing if not inconsistent. : )
While I have my solids generally grouped by color, I haven't tried to sort my prints by color because many of my fabrics are multi-colored and it gives me hives just thinking about choosing the prominent color. I know the selvage dots are a guide but it wouldn't be very apparent on the shelf.
I was in a color wheel club for a year that sent 12 print fat quarters a month of a certain color. Those are about the only print fat quarters I have in color order (out of 500+/-). I seriously didn't know I had that many until I did an inventory. Yikes! They're like pieces of candy and I have a sweet tooth.
I often purchase the same print fabric in various colorways and like to keep them together. I tend to group by designer as well. Holiday/novelty is a bit slapdash.
For those that do something similar, (I can't be the only one, right?) if you have fat quarters & yardage of the same fabric, do you keep them together or separate? Right now I have all the fat quarters in one area and yardage elsewhere. It looks better that way but I'm afraid of overlooking the additional fabric if I run short.
What works if color sorting isn't desired/easily doable?
Ha! Sorry - I've added to the confusion instead of offering a solution. So definitely ruler fold everything and sort light to dark. : )