1. A method for rate-limiting a traffic stream using a rate-limit hierarchy at a network node comprising: subjecting a packet to a first rate-limit check, said first rate-limit check corresponding to a first-level traffic classification; subjecting said packet to a second rate-limit check and an infinity rate-limit check, said second rate-limit check and said infinity rate-limit check corresponding to a second-level traffic classification; granting an automatic pass to said packet from said infinity rate-limit check regardless of whether or not said packet passes said second rate-limit check; and granting an overall pass of said rate-limit hierarchy if said packet passes said first rate-limit check.