After Effects 6.0 allowed you to save filter combos as Effect Favorites. This was helpful, but didn't cover all the needs. But hey it wouldn't be an upgrade if there weren't changes for the better.
After Effects 6.5 introduces the concept of animation presets which allow you to save and reuse just about any animation.
Animation presets can contain:
Effects
Properties
Property Groups
Settings
Keyframes
Expressions