I have settled on a file structure similar to those listed above. However I have also been spending (wasting?) a lot of time building up a SONAR spreadsheet. It has columns for Title, Artist, Key, Starting Chord, Style and Tempo. It also includes columns with hyperlinks to the project file and Word files for lyrics. There is a third set of columns for Drums, Bass, Rhythm Guitars, Lead Guitars, Lead Vox, Back-up Vox, etc...
I started this to have an easy way to find projects that needed Bass if a Bass player is in the room or projects that need vocals if the pipes are working well on a given day, that kind of thing. I had no idea it would take so many hours (months) to complete.
So now that I have gotten it pretty much up to date, I figure the bakers will re-vamp the browser to make this kind of sorting available within SONAR.