I keep all the characters in the DAZ people folder and then I make individual folders for each character and copy character specific to the folder.

Then I name the folder with the generation prefix.
My charcter lib looks like:

2-TY
4-Victoria  , has all my V4 versions, and I save a .cr2 file with the Ikeys off and my fave textures.
4-Aiko
4-Girl
4-Mikey
4-Hiro
3-Aiko
3-Michael  (there is an Sr1 and an Sr2 version. Some morph characters require the SR1 version)
etc.
5-Don Judy Will Penny  (hey, that's the Lost in Space family)
6-James
6-Jessi  (hey, Jesse James)

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