The biggest difference between All My Files and Libraries is that Libraries requires you to manually manage library paths if the file is not stored in default locations. All files shown up in Libraries still retain the hierarchy layout of original directories.
All My Files just show recently used files (newly added, recently opened) in Spotlight index categorized by kind (not filetype, e.g. all my .py .rb files are grouped in developer category) and they shown up as a flat list without any hierarchy.
I agree that Finder is a bad example, though. (Even though I don't think I need anything more from Lion's Finder.)
All My Files just show recently used files (newly added, recently opened) in Spotlight index categorized by kind (not filetype, e.g. all my .py .rb files are grouped in developer category) and they shown up as a flat list without any hierarchy.
I agree that Finder is a bad example, though. (Even though I don't think I need anything more from Lion's Finder.)