This is my Twitter algorithm. What's yours?
danshapiro.com
danshapiro.com
a.) I know personally
b.) Tweets in such a way that interests me more than 50% of the time
So I don't actually pay attention to who follows me, and I only currently follow 14 people (though a few more follow me)
What I would say, however, is that I disagree with your "< 3 tweets/day" - I know what you're aiming at, plenty of people tweet WAY too much (I suspect I do, now and then), but there are plenty of reasons for more than three interesting tweets in a day, and it's quite possible for someone to tweet more than three times a day on a regular basis without it being annoying or pointless.
I <3 < 3 tweets per day.
If I notice that someone is getting frequently RT'ed by some of the people I follow, and the original tweets are actually interesting to me, I start following them. I don't really use any other way of finding followers, and it's worked out fairly well for me. I have a fairly uncluttered twinbox, but I still get a healthy dose of interesting tweets.
1. They tweet about my professional interests only - CS, programming, web development/marketing/startups, or finance/trading/econ (and for the next few weeks, the World Cup). Little to no personal stuff. Get a second Twitter account for that.
2. 4:1 or higher signal:noise ratio. If I see a second tweet about your Starbucks latte being too hot, or that you just finished your daily jog and are sweating, /unfollow. DO. NOT. CARE.
So far that's about it. I don't screen based on follows, followers, tweet frequency, etc., as that has no strong correlation to tweet quality.
The same goes for who I follow. I only follow 57 people as of writing, but 99% of them are people I'm truly interested in. I try to never follow more than one or two new people per week, that way I can easily see if they're worth following, or just people I'll end up skipping past.
I don't follow everyone I know personally, because even those people tend to be boring and spam me with minutiea of their day.