Last I've seen, code folding has been requested from day 1. And I see requests / lamentations / mentions of it every time discussions about it crop up, without exception.

Personally, as shiny as the scroll-preview is, the fact that it doesn't show the structure of the entire document makes it almost worthless to me. As much as I hate visual studio, MetalScroll[1] was fantastic. You can see functions by shape, visually navigate the entire file at a glance (though I have good visual memory, so that may be easier for me), and it shows folds, breakpoints, changed lines, and selections. ST2 shows... about a screen in either direction.

[1] http://code.google.com/p/metalscroll/

The userecho page on Code Folding has a lot of votes, though there's some speculation that it'd be pretty difficult to do with the current implementation of the editor control.

http://sublimetext.userecho.com/topic/19281-syntax-code-fold...