I agree but since I started cataloging long ago (I started in 1995) I have numerous images in Portfolio that would take forever to re-catalog the way that has now become standard.
Even then, re-cataloging images that have embedded keywords is still very time consuming, especially when large numbers of images are involved as you mention.
I use Aperture, for organising a library, i haven't found better. I import into Aperture and backup to the vault system on two other drives. As an experiment I pointed another DAM software program at the Aperture library, it found the files without a problem and could read the keywords etc. So if ever I need to switch programs I know the much needed keywords will come. I also like to have good location information in the title, just incase the keywords ever get lost in translation.
Keywording is more time comsuming than the photography for me. Also having the location in the title means it's easy for the SMART folders to organise on the fly without me having to search. An example would be if the title started with the word Cambridge, those images immediatly get added to the Cambridge SMART folder. You can add many different filters to the smart folders as you please, instant sorting of images.