Folder Level Security (Idea/Feasibility)

At our organization, the staff is used to our discoverer reports where one report will pull from multiple tables/views, after asking around and looking at OTBI security we found that replicating some of the existing discoverer reports might not be feasible unless we either develop our custom SQL BI Publisher reports or we go with Folder Level Security.

Folder Level Security means staff access will be based on the folder itself. For example, someone who is in Payroll will have access to all subject areas granted by the security console, but they can only modify/view reports in the folder we created for them, and when they modify they should only see the subject areas we defined they can access at the application level.