Let's say you play every week and want your players to level up 4 times a year. Roughly 50 games a year = 4 levels, so assign xp in such a way that they gain a level every 12 sessions. This works really well for me.
Like I said, that's largely the way I do it.
In fact, you almost nailed my numbers exactly, except that I'm a college boy so we do 3-4 levels per school year rather than year.
However, I like having the first edition chart available for several reasons:
1) It's impossible to run 1st edition modules otherwise. If you tried to run, say, Desert of Desolation using the 3e advancement chart, your players would be ridiculously high level by the end of it.
Corollary to 1) 1st edition adventure are way better than 3rd edition ones (no offense PC, Of Sound Mind was quite good, I am speaking generally, or specifically of WOTC modules)
2) I like milking every experience level for all its worth (as in the players getting to use almost all of their abilities in that time), which means increased time between levels when you hit those hardcore exponential power curves
3) Related to 2, because of exponential power curves players have many more options to explore at higher levels, and so I find that they don't get bored at all
4) Also related to 2, any campaign I run builds more and more potential tie-ins as it goes on, constantly growing. This means that plotwise, I have alot more stuff to exploit by the time they reach higher level, so it gives the campaign a better sense of completeness to allow those elements to show up multiple times.