Sorry about the problem with my first reply. The system didn't like the single quote, but I wasn't using an iPhone. Below is the original reply without single quotes.
I am thinking about ripping my 45s/singles too. Because my music players use metadata/tags to display the artist, album, genre, etc. the metadata is of primary importance to me. The location of the files will be in my music library folder structure. Mp3tag will be used to add/modify the metadata, as it was done for my albums.
One option I want to test is to use the song title for the album title and track name tags, artist for the artist tag, and use "Singles" for the albumartist tag. I do not know if I will use track numbers. Also, I want to test using "Singles" for the album tab, the song title for the track name, and the artist for the artist tag. I will rip 10-15 singles and determine if either of these options will work well for me.
I use a folder structure of artist/album with separate folders for Compilation, Musical, and Soundtrack albums. I believe putting all of the singles files in a Singles folder will work, although I may add artist folders as subfolders in the Singles folder for separation.