The way I set it up is to create subfolders in the inbox for the mail I expect and one subfolder for bulk mail. so it is something like this:
Inbox
------Bulk Mail
------Contacts
------------Adams, Jim
.
.
.
------------Smith, John
------Shopping
------------BestBuy
------------CircuitCity
.
.
.
Then I create rules for each expected email for example: (Where the from line contains Bestbuy, move to BestBuy folder and stop processing more rules)
Since the rules are executed in the order listed, the last rule is just move to the Bulk Mail folder (Where the To or CC contains [your email address] move to Bulk Mail folder) . Anything which is not expected defaults to the Bulk Mail folder.