The solution is: Several smaller SD cards! ;-)
Seriously though, I have different folders on my 2GB SD card where I keep things like alternative Kickstarts, different cores, games that don't work, games that do work (but I don't want to play).
Having 200+ disks that you need instant access to is a bit of overkill. Just use your PC to read the card and drag them around the folders as necessary.
Access to sub-folders would be nice though, just to be able to group multi-disk games together.
Roll on hard drive (hard file) support...