With the new task paper actions, is there a way to “fold” and “unfold” items?
I don’t think there’s any ability to “fold” a Draft.
But you can navigate a long taskpaper draft by project using the navigation bar. And, depending on how you use taskpaper, you may be able to move things around using arrange mode more easily than you can with cut and paste.
And depending on how you use taskpaper, you might be able to have multiple drafts and/or to create actions that would search through a set of drafts and compile (for example) a set of tasks due “today”.