John Porcaro has a great writeup on the Email Culture at Microsoft, and some great tips on how to handle. I was getting in excess of 500-700 mails a day at one point leading up to MCE launch, of which at least 300 I was on the To: line. Another tip to add to John's list: create a rule and put all general mails your "CC'd" on into a separate folder.
Disclaimer The opinions expressed herein are my own personal opinions and do not represent my employer's view in any way.