Friends have asked how I manage photos, so here's a breakdown of my typical process, whether that's shooting for 15 minutes in my backyard or several hours across the country, it all follows a similar pattern.
1. I set my camera on the highest burst mode, run 16Gb and 32Gb CF cards, and shoot all day (in JPGs, not RAW for speed, laziness, and disk space). For bike races especially, I'm bursting out a dozen shots a second as riders pass in the hopes one of them is in focus, capturing the light and action well. I typically shoot 300-1500 photos in a day depending on the activity. If there's a huge lull in action I sometimes review and toss out the obvious bad ones.
2. Go home (or to my laptop if traveling) and dump them all to iPhoto
3. Skim through the photos full screen in iPhoto, with the Information and Adjustments floating panels showing. Delete blurry/bad ones directly (which automatically advances to the next shot so it's quick), leave so-so photos, and mark good ones as 5-starred using the info panel.
4. I have a smart album in iPhoto set to photos taken in the last couple days that are also rated 5 stars.
5. I go through the best of photos again, weed out any that aren't up to snuff (simply clear the stars), and optimize the remaining.
6. I used to dump into Photoshop at this point to fine tune every shot, but now I'm lazy and there's so much content so I just use iPhoto's adjustment controls and often it's just hitting the auto-enhance button for most shots to get them 90% of the way there.
7. After I have my best photos all brightened up, I usually run the Flickr Uploadr and dump them to my Flickr account as a new set.
I've been working this way for the past couple years and typically it's pretty quick. Even going through a 1500 shot day, the time from when I start reviewing photos to the time I upload the best to Flickr is less than an hour. For smaller (300 or less) photos, it can be completed in about 15 minutes start to finish.