Once you follow more than 200 people it becomes difficult to really use Twitter for what it is - minibloging platform. The constant stream of tweets can become overwhelming, making many users discouraged with the tool. Below are my ideas of how to not only manage Twitter information flow but also get most advantage from your account.
1. Take time reading at least some of the tweets on your time line - after all this is what Twitter is all about. I am constantly amazed at what wonderful things I find by following tweets. Obviously it is impossible to read all the tweets, unless you want to do only this all day long. I find it is a good practice to take set aside a given amount of time every day to read a sample of tweets. Treat it like the daily newspaper. This solution has the added benefit of making you more careful about who you want to follow. You can't read all the tweets - so make sure that you only see the ones that count!
2. Read all tweets of a few chosen people. Among those that I follow, there are several fantastic bloggers. Each and every of their tweets carry great value and I don't want to miss them. I keep a their twitter pages bookmarked and at least once a week read all of thier tweets. It is always worth my time.
3. Take time to check who follows you. Every day I check the list of my new followers. I do not blindly follow back. I open every account, read their bio and follow the webpage link they provide. This not only allows me to weed out the spammers and "instant_money_makers", but I get the chance to discover interesting websites and find great craft shops. I only follow people who have the potential to add value to my stream of tweets.