You'll see I have chosen "Custom Groups (Advanced)" under the save options. This creates groups according to photo similarity and the time the photos were taken. You can drag the group adjustment slider to create more or less groupings, and Elements does a good job of splitting the photos into logical groups. Over on the left, you can see how the photos are group as you make adjustments. The groups can be expanded or collapsed in the thumbnail view by clicking the little arrow on the bar above each group.
I've also chosen to rename my files according to the shot date and a custom name for each group. On the Left, I have three groups -- home, truck, and GPS. Each of these groups will go into a separate folders and will be named with the shot date and the custom name. In addition, the custom name will be applied as a tag on these new photos.
Of course, you can use a subset of these functions; however, in order to create custom groups or apply tags at import, you do need to rename your files. Unfortunately, the renaming templates do not allow you to include the original filename in the new name. This was disppointing to me, as I like to retain the original camera file names. Also the renaming templates insist on putting spaces in your file names which can cause problems if you use your photos on the Web frequently.
You can also see the new "Apply Metadata" feature in the advanced dialog box. This allows you to save author and copyright information directly into the files at the time of import.