I've gone through several different revisions of how I use ratings. Each time I change my mind I do a mass deletion of saved ratings on songs. I think I've finally found my final method of rating songs.
I rate my songs to easily aid in the creation of a few different auto playlists.
1 Star = Any very mellow / tranquil late night kind of music. Good for either late nights on the computer or even when listening to music in bed.
2 Stars = Any good mellow/chill song that is worth listening to often. More upbeat than the 1 star songs.
3 Stars = My all-time favorite mellow/chill songs. Often I'll mark something 2 stars, then over time upgrade it to 3 stars.
4 Stars = Any good upbeat song that is worth listening to often.
5 Stars = My all-time favorite upbeat songs.
This way I can create these playlists:
Sleepy = All 1 star music.
Chill = All 2 and 3 star music.
Chill+ = All 2, 3, and 5 star music. This way it picks up the beat a little bit with some more of my all time favorites
Upbeat = All 4 and 5 star music
Upbeat+ = All 3, 4, and 5 star music. Mixes in some of my favorite more chill songs.
Awesomesauce = All 3 and 5 star songs. Just a shuffle of my all-time favorite tracks.
I don't bother rating anything not worthy of a playlist, those songs will get their play when I listen by album.

