"make three categories of tags/labels within Google Reader (think folders for old-schoolers). These are:
Mine look like this:
* Priority (general importance): Primary, Secondary, Tertiary
* Subject (classical organization): Security, Programming, Design, Humor
* Location (contextual consideration): Industry News, Important World Events, etc.
This is a strategy I use as well, but I'm experimenting with still other qualifiers: frequency, mobile or desktop, timeliness, online/off-line, length, mood…