For nearly two years, I've organised feeds in my reader as follows:

• once-a-day
• once-a-week
• work
  

I call these "buckets" rather than labels. Originally I had a once-a-month bucket, but it turned out that nothing went into it.  

Organising feeds by post rate + personal preference + how much time (which I call "feed by time"), works well for me. The i-made-this-up-in-shower theory I have on why this works is that feeds are time ordered lists of information, so higher order organisation of feeds is naturally about dealing with rates of time. But recently I've started to follow more "newsy" type feeds like programming.reddit, arsdigita and some mobile industry news feeds that update at a fair clip. They're purely jump off points for actual content to bookmark for later reading, hence they need fast scanning; this also includes top level feeds from del.icio.us and stuff like twitter. It turns out they update too quickly not to interfere with the way I read through the other buckets.

So I added a "scan" bucket, to deal with high frequency feeds that you don't anything much else than skip over or click to open in a new tab. We'll see if it works out: