If your updating your portfolio think about coming up with a couple of different ones - designed for explicit purposes.
For me the traditional folder style portfolio is a bit passe - if you want to stand out from the crowd go and print one properly, like a book. If your trying to show off some nice or creative print jobs - include photos rather than the flat artwork. This all works fine if your taking it to say, a job interview and taking it home with you and it's worth the extra expense.
Don't dismiss online/pdf portfolios - but only use them when you can't show your printed copy. If you're trying to demonstrate the type or range of work you do to a client or employe,r a website is great. But some people - especially when going for a job - cannot be bothered to go online, so send a pdf with a selection of work.
The hardest thing I found working like this was coming up with a style I liked! As your own client its hard, really hard. Nothing is ever great.
But whatever you do, before sending it out and taking it public, get someone to look it over. Another designer would be awesome. They'll pick on little things you never thought of and hopefully give you some hints and tips on improving it.
Think of the work as an investment - if it means you get a better job over a bunch of other people - or one that pays more money, it makes all the time and effort worthwhile!