How do you ensure that stuff like filing your taxes becomes the most important thing by some suitable time? I felt Getting Things Done made a compelling claim that any TODO that isn't written down will continually occupy a bit of my brain, due to anxiety about overlooking it (which I definitely have).
I think Ed's approach is not necessarily incompatible with GTD. All he is saying is that he uses only one context is his next-actions list (@now?), which usually contains only one item. Everything else is in a someday/maybe list...
I particularly enjoy the GTDish technique of emptying one's mind and all inboxes, but I have also been trapped in too many "what-if" scenarios and in non-important tasks. Thus, I really think that Ed is making a valid point here.
BTW, filing taxes should be only a reminder in your calendar or tickler system.