Merlin talking at IDEO. This is a really good talk. I hadn't seen it before.
Most people in the position of offering people advice seem to gravitate towards prolonging people's need for that advice. It's fascinating to see someone realize that and struggle with what it is he's found himself the king of.
I was a huge fan of Merlin's site when he first launched it. I read the GTD book and noticed the more I developed my own homebrew system, the less I need these types of sites in my newsreader. Now everything goes into Taskpaper, and I just work my way down through the day. Stuff spills over, whatever.
I also tweak it every now and then. Recently I started marking everything in my inbox as read. It's no longer a todo list of unmarked/bold email that switches state when I happen to glance at it. If it's in my inbox it's unread. Works for me, probably won't for you.