What is the best way to create VS project solution for SharePoint

Hi all,

What is the best way to create VS solution for SharePoint items? Is it better to create different VS projects for Pagelayouts, user experience (css ,images) ,Master page, content types, web parts (different project in one solution) or putting all of them into one project solution with different folders. If we use different project option, we will have different wsp for each project with other wsp dependencies. The single project option can be very complex when you have more number of SharePoint items.

Please share your ideas, how you or your organization manages VS SharePoint solution.

Thanks