Email can really be a big task. Its one of those things that you cant just ignore... but it can suck up endless hours of time if you let it. I've struggled with it myself and have finally got it down to a manageable task. Perhaps some of will be helpful to you as well.
First, if you still have spam in your inbox, you have to get that to go away - period. After trying several programs, I have settled on SpamBully and am absolutely in love with it. Instead of paying a monthly or yearly fee like other services, it was a one time 30 bucks... and it works like a charm. If a piece of spam happens to fall through the cracks, I just click one button telling SpamBully that its spam - and it remembers it from then on. GREAT program.
Another thing that has been a huge time saver is the use of folders and filters to auto-organize my content & messages. Notifications, for example - like new list subscribers, blog comments, etc. These can each get filtered into their own folder using a Rule of Filter. They dont need to interrupt my work flow, and I can easily check in on them anytime I like. I have task-type notifications like forum reply notifications and blog comment notifications and payment notifications all go into a "notifications" folder - so when I am ready to sit down and do those things, I just open that folder and its all right there.
The only thing I have left coming into my actual Inbox is current news, email from lists I am signed up to, and actual messages from a real person. Its easy to let these sap up entirely too much time too, so I set a timer (15 min, 30 min, 45 min - whatever works for you) to give myself a 'deadline'. This helps me to sort through it a little quicker and "get back to work"