I'm definitely a one album, one disc kind of guy. Both for compatibility reasons, as the head unit in my VW camper and the MDS-JE510 in my lounge are both SP only, and to have all my albums neatly labelled and arranged alphabetically (a bit anal I know) on shelves, having just one thing on each disc seems best.
I do use Hi-MD though.
When going on holiday and not wanting to carry loads of discs it comes in very handly, but mainly, if I'm out DJing I can set up a recorder in the club, warehouse, field, etc and record the whole event at quite high quality without having to stay sober enough to remember to change discs!