If you’d like to start a online firestorm, opening a topic on the Luminous Landscape Lightroom forum will work. My move from Aperture to Lightroom offered the occasion for me to review and potentially revise my photo storage organization. So I started a thread there to see how others using Lightroom organized their libraries.
Before all the arguing started, I did get some useful input. The original “bible” for digital asset management (DAM) is Peter Krogh’s excellent The DAM Book; the latest version focuses specifically on Lightroom 5. I read that and felt comfortable with the concepts, but wasn’t sure I liked the strictly date-based “storage layer.”
My system in Aperture was created with projects grouped in folders by location. While there were some exceptions, the bulk of my photos were in this folder-by-location hierarchy. So pictures taken while I was in downtown Savannah, Georgia ended up in the project Georgia > Savannah > Downtown (in Aperture, all images are in a project).