I have multiple home screens. The main one has what I use the most. The next two or three have things I use a lot, but not every day. After that, I grouped my (100+) apps in folders and arranged the folders by priority. I only use the top two (sometimes three) rows at the top of the screen so I can see my wallpaper. Works well.
My most used apps, individually.
Everything else, Folders.
Quick, easy organization and related apps all in the same location.
But I only have 4 icons (whether folders or otherwise) per page. I like the clean look of this and don't mind having to go from page to page. Just my personal preference.
I group certain apps in folders such as utilities, productivity, directory, entertainment, travel, etc. but leave the frequently used apps individually on the home screen. Too much of a hassle to have to open a folder first then the app for those frequently used apps.
I have almost 200 apps so I use mostly folders but I only have one home page. The only apps not in a folder are Calendar, newsstand, phone, settings and of course Mac Rumors!! Although I kind of like the idea another user had of making the first page individual apps and then the second page all folders so I may try that.
I hate folders....isn't that the idea behind the open app drawer, to not have to go through different menus? The only thing I put into folders are apps that I cannot remove and never use. My "utilities" folder contains: clock, calc, compass, voice memos, game center, itunes, nike, stocks, music, videos, notes, and weather (notes and weather are only in there b.c I never need the app to access them)
I use a mix between both. First screen only first 3 rows are used (the apps I use on a daily basis), individual icons except for my Navigation folder. I rather have my maps/waze/google maps apps available for easy access. Second page, all folders except for Newsstand. I like to be organized.