I have a cardboard folder (the kind that go into notebooks) that I keep my hardcopy recipes in. I have probably 50 or so in that folder, some I use all the time, some are prints from my "Must Make" list, some are things I really got to File 13.
When I'm using a recipe, I have this setup:
Get a pushpin / thumbtack. Set insert the pin into a cabinet immediately in front of your prep area (my current space is a corkboard to the side of my prep area, as my prep area faces into the living room). Get a butterfly paperclip, fold the "wings" back, and hang the clip from the tack so that the "wings" are pointed up and the black clip is hanging down (it should fall to this position anyway). Clip desired recipe into the clip and start cooking!
I used to use page protectors, but now I don't. If I get a copy all dirtied up, I'll just print a new one off. Some recipes I'm constantly "tweaking" anyway, so will print a copy, make it, and hand-write notations and changes onto the printed copy. Then, after it's all said and done, I update the document on the laptop, and File 13 the old hardcopy. When I make it again, since I don't already have the old copy in my folder, I'll go and automatically print a new one, since I might not remember whether or not I've modified the printed recipe yet.
Peace, Love, and Vegetable Rights!
Eat Meat and Save the Plants!