Here is a faster and more reliable item sorter for Minecraft 1.5 and above. It's not the most resource friendly though. The least amount of items for each sort is:
4 Blocks to Build On
4 Hoppers = 20 iron / 4 chests
1 comparator = 3 redstone dust / 3 sticks / 1 nether quartz / 3 stone
1 repeater = 3 redstone dust / 2 sticks / 3 stone
1 redstone torch = 1 redstone dust / 1 stick
2 redstone dust
23 of an item/of a combination of items.
Original Video: http://www.youtube.com/watch?v=IryuBJjlR34
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