I am working on a large(ERP level) Rails project. We have 150 tables and more than 150 models. It takes minutes to find a model. Should we add all models under the models folder or should we put them in different subfolders? Same thing goes for controllers and views.
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See my answer to this question; with my second example, I talk about namespacing which is possible to do for controllers (and, subsequently, views) as well.
In the case of large applications, I think it would be a very good idea to namespace your models and controllers.