Track folders group everything into one, nice and easily collapsible 'lane' with the advantage of one single M, S and R button to work on all tracks. I use this setup when recording multiple mics/tracks of the same thing.
Then in each different track within the folder, I will record each take to the same track (with the Record Options set to NOT overwrite). This then gives me the ability to insert one effect and have it operate on all the takes within that track.
From that point, I use the Mute tool to either mute or solo ranges that I want to build myself a nice comped track.
The other thing I will do is point each track within the folder to the same output bus. This then gives me a single volume control or FX insert point for the entire set of tracks within the folder.
So within my RHYTHM GUITAR folder I have three individual tracks - RG - LDC, RG - SDC1 and RG - SDC2 or whatever. The individual tracks I can EQ or whatever to make them sound good - seperately. These output to a RHY GTR bus which I can use to tweak the volume or add FX to the entire rhythm guitar sound.
Once I got the hang of that, I stopped wanting a volume control or fx bin at the folder level.
Ciao,
Q.