some tips I use
I've been using LB for years, and I like it very much (especially for the Mac - Palm synchronization. There are plenty of things it doesn't do, but what it does do, it does very well.
I set mine up with Areas of Focus as the top level items, and then anything with a triangle below those is a project. From Ratz's entries on the llamagraphics site I got the idea to make a separate place, always closed, for Projects. This means that if I select Projects in the Todo list (set to All), anything that appears does NOT have a next action assigned; since for any actions I assign an appropriate place (i.e. context). (I love the way LB lets you combine places under other places).
Another nice trick is that I have headings labeled "Later-Maybe Next Week" and "Someday/Maybe." After setting their importance levels to None, I put the projects and actions on-hold under these. Thus, just by moving items in and out of those headings, they become visible or invisible on the ToDo list. You can create a big elaborate project with many sub-headings, and then just put it on hold by moving it under one of the above headings, without having to change anything in the project itself.
I review the Later ones as part of my (mostly) weekly review, and the others at least monthly. I also use the importance sliders a lot -- the best thing about Life Balance is that you can tell it what overall projects are most important and then it automatically puts their tasks at the top of your list -- saves you time in deciding what to do. I don't use the balance function much, but others do and also value that unique feature of LB.
George