I am organizing my sewing room right now, too. My fabrics I'm sorting by color or collection except for my flannels.... My flannels stay together. If I have UFOs, I am making sure that all the things pertinent to that project are in the same container. Lumping my scraps together without separating them or cutting them into a particular size. Thread in another container. Notions together, too. Pattern together... Books on bookshelf. I have plastic see-through tubs, regular nonsee-through tubs, and office file boxes. My sharpee gets a workout on the boxes and tubs I can't see into. It is nice having everything in one spot... sort of. I have a dresser in another room filled with ongoing projects, too. I am not labeling my dresser drawers, btw. I keep hoping that those UFOs will be moving on faster than a label would imply. :-)
Good luck with your project!! Travelinggramma lives out of an RV and has organized her fabrics into seethrough tubs.... fat quarter sized materials for scrappy projects. Check out the pics on post 54 on this page:
http://www.quiltingboard.com/member-...t280962-6.html