Information architecture is important from a usability and search engine prospective.

I'd say go for the categories divided by the /

www.example.com**/**accounts/titanium
www.example.com/accounts/open-demo-account

This makes more sense and lends itself to scalability etc.

hope this helps.

there are some really good articles on information architecture on the seomoz and the web

not quite sure what you mean exactly - can you expand with and example?

Thanks