Content organization for complex website I know this is a trivial question but before to continue I would like to hear some opinions from You experts. I am organizing my content in D7 website in two section "Activities" and "Our Projects". The "Activities" will have the bellow pattern:

activities/public-buildings/schools/project-1.


I've created a CCK for company projects (aka project-1,2,3 etc) However for each category I would like to have a landing page which will show its sub-directories. For example a landing page for "public-buildings" will include a text with images and also a list with "schools" etc. A landing page "schools" will include  a text with images and also a list with "projects".
Last, "Our Projects" section will again include projects. So the question is, which way should I proceed (taxonomy) or node reference or?
Taxonomy is the way designed just for this. You can override taxonomy term pages with Views, and in view settings you can easily add your own content. Or use any other approach. Nodereference feels awkward to me, but would work.

If you want to go taxonomy way, just do what feels natural for your kind of data. Make things as simple as possible, and not simpler! That said, if one tree is a subtree of another, yes, keep it as one hierarchical vocabulary. It makes sense and will allow you to filter more effectively in the future.