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We do have a feature request open on the ability to reorder things in context view without affecting their order in Project view; I'll attach your post to that item in the development database, mitchm. Thanks!

In current versions of the software, I use an approach fairly close to what Bill describes. Flag the most important 8-10 tasks, make as much progress on them as I can, grab a few more, and so forth. That keeps cycles short enough to keep me responsive to changing conditions while still letting me knock out items for stretches of time. Hope that helps!