Album Storage

By genre, then alphabetically. I go by last name of the composer for classical and by last name of the artist for other genre. For groups, I go by the name of the group (e.g., for "Jethro Tull" use "J").

For LPs with works by multiple composers or with multiple artists, pick one. (E.g., in my collection, "Armstrong & Ellington" is filed under "Armstrong" for example. Why? An accident of history because I had more Louis Armstrong recordings than Duke Ellington recordings once upon a time.)

The important thing is to use a system that makes sense for you, that you can apply with as much consistency as practical, and that will allow you some success in finding the album your looking for without a prolong search through your shelves. My process still depends on a searchable database to find some LPs: a field in the database is "Filed Under" to tell me where I hid the thing. :-)
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by geography....Memphis,San Francisco,Seattle,Chicago, Detroit,etc....Even make distinctions for bands from Flint(as opposed to Detroit)

Alphabetically, last name of artist or first letter of group name, excluding the word "the " of course.

So Theo, if you exclude the word "the", how would you file the rock group "The The" then?
:-)

I file mine by the same method as Rushton.

(in addition) For R&R and Jazz, I keep each person/groups stuff in chronological order (not title alpha order).
This means I have to remember what the history of the group is and when they played what... but it is far more rewarding. The clearest use of this system can be used in the works of Miles Davis.. Where he had very different styles throughout his career. In fact Miles Davis was the reason I changed all the R&R/ Jazz to this system.
This would work for Classical.. but I am too lazy for that big effort. For Classical I sort by composer, then in that composers works I start single, duo, trio, quartet... etc. and for each work I sort that group by conductor's last name, or the person/group name. (So for the many Beethoven's Fifth, I have them in conductor order)