When I originally created my site structure I had keywords in mind and wasn't thinking at all about page depth. I run a fantasy sports-related website, so my directory structure looks like:
So there is very little content at a depth of level0 (root), little level1 (fantasy-football), and zero pages at level 2 (nfl); almost all of the [url=http://searchengineland.com/070531-115312.php]Real[i][/i] Content[/url] is at level 3 or deeper. Am I hurting myself more with the depth of my pages vs any possible gain by keyword inclusion in my urls? My hunch is yes, but I'm wondering if the hit is enough that it would warrent a re-architecturing effort.