Kids' Artwork and School Papers

Now this is a BIG one. What do you do with all of your kids' artwork and school work that accumulates just about EVERY DAY?! This is what I do:
I stamp the date on whatever papers or art that come home from school, and I have a designated basket that I put each child's in. (I got these ones from Ikea).Then during the summer (that means right now!!) I go through them, find the ones I want to keep, use sheet protectors and put them in a 3 ring binder. I sort the papers into artwork, math, writing, etc. Most of the math and science ones get tossed (and sometimes it's easy to see what is toss-able before it even hits the baskets during the year) and then I pick out some of the special or favorite writings and art samples to save. I try to pick out work that shows their progress or their sweet little personalities. Also, I try to make notes on the page so that we know what in the world that picture was all about in 10 years. With those big artwork pages, I take them to Kinko's and get the guys there to shrink them down to 8 1/2 x 11 for me. Below is one of those shrunk artwork pages with my writing explaining the picture on the next page.**Note, I get an explanation from the kids RIGHT when that artwork comes in and make notes (could be a post-it that gets stuck on the paper, or just write it on the back...whatever works for you) otherwise they won't remember by the time I get around to making their book.**

I know that there will be many-a-things that will not make the cut, but remember, you will be collecting and accumulating forever! It will not stop! So, for me, it stops after one 3 ring binder per year. Here's a picture of this same thing on one of the blogs I am following: Creative Organizing So, now I'd like to know, how do you all organize your kids' papers?