I have a list of projects that would choke an elephant. I am looking for a simple, free management tool to simplify and organize the key points, time-lines and milestones of these projects.

Try:

http://www.basecamphq.com/

You’ll love it. It’s an online web project portal, which makes collaboration easy. You can post messages, share files, "to-dos", "writeboards", and milestones too.