There are two problems with Android Homescreen folders - 1. There is little to none customisation wise & 2. They take a long time to set up and maintain. Well, the first problem is easy to solve, for a long time there have been many folder apps that allow for deep customising. But what about the second issue? Who wants to spend item setting up folders? You may just find 'LiveSorter' by Fazik Logic to be your solution!
On the first run LiveSorter will scan your app library and match the apps against a genre e.g. Game, News, Live Wallpaper. Using this information the app creates a data base which is updated every time a new app is installed. Meaning if you install a new app, it will automatically be added to the corresponding category. Within LiveSorter you can create folders which encompass these categories, for example you can create a games folder, social networking folder or any other category you can imagine.
LiveSorter even gives you some customisation options, such as icon or folder style (grid view, list view).
The only drawback to the app is that if you have apps from non-Android Market sources such as GetJar you may have to assign the category manually. But remember once it's set it won't forget. You can also manually change the category of an app to your liking.
LiveSorter by Fazik Logic has a limited trial version on the Android Market with a fully functional version, purchasable from directly within the app.