I am planning on scanning/photographing my stack of books/magazines this coming week to clear out some more room. When I want to pick a new project I rarely look through my magazines. I go to my digital files, ravelry or pinterest.
I have my digital patterns filed similarly to bushbaby. I also use cutePDF writer to make a digital file of patterns on the internet that I want in my library. If it is a PDF you can load it on your phone/ipod/tablet/etc to take it with you, then you might not have to print it out at all. This only works with easier patterns for me though.
My fabric patterns I have stored in a plastic drawer/rubbermade thing, that way I can just flip through them instead of taking them out and sorting them when I want to pick one.
On a crafty note I have one more arm left on a sweater I am working on. I am going camping this weekend so I hope to finish it up