I used to have dial-up for the longest time, but it never stopped me from downloading a shitload of music. Back then though, it was mostly 128 quality. Nowwww.. shit comes in far better quality. So I basically re-downloaded my whole collection this past year. That's like 700+ albums! I have well over 1,000 now though. As far as tagging them, i'm not real picky. I don't have the time to have them all tagged a certain way. I used to take all tags off actually and I had ALL my songs in one folder a few years back. Then I eventually made folders for all artists/albums and moved them all to where they should be.
So as of now, I have a folder labeled mp3s and inside of that, are artist folders. Inside of those, are album folders. So for example, it would be like e:\mp3s\Eminem\Slim Shady LP\. As far as inside the id tags, i'm not real picky. I don't care about anything besides artist and track name really. They're all inside the album folder they should be in, so album name doesn't matter much.