That's a very good point, Aaron - it's easy to get so focussed on spiders and forget its the human traffic you are ultimately trying to cater for via SEO.
I used to give all my folder files overlong keyworded URLs. With a certain folder depth it became a little ridiculous for human users.
I now have a policy of only using keywords for pivotal folders, and not for individual files themselves.
I may lose out slightly for that in Yahoo, but I figure I gain by having site page URLs look cleaner, more professional, and less contrived and overlong.
In the example URL - instead of using folders to make it look as follows:
http://www.online-dvd-club.com/buy-d...431/locale/us/
I would actually consider cutting tight down to barest essentials, such as:
http://www.online-dvd-club.com/us/
That covers the core keywords, gives more weight to those keywords in the URL for search engines, and looks much more friendly to human users.