I use Filemaker Pro for a database of all negs and images. I got tired of looking in boxes and books for negs. I keep the negs in Printfile sleeves (35mm, 2 1/4, and 4x5) in binders, numbered and page numbered. Prints are kept in boxes, numbered, and tracked in the database. Because of the DBase, it doesn't matter how they are grouped or organized in the books, because I can always find them, by size, location, film, even developer, whatever I remember about the shot.
I know what you mean about prints too good to dump, but not good enough for presentation. Fred Picker always use to say "dump them, keep only the best". I still have many, though, that I'm in limbo about, maybe I would like better if I printed them differently.
It took awhile to create the database, but I have made up the time in finding stuff. I can even find all the images that need printing, for example, with one search. I have scans of my best images showing in low resolution in the database. Obviously, I can keep track of all kinds of info (price, how many sold, etc etc). I have a field for precise printing info, developing, etc. It's great for keeping good records for testing films and developers.