Thanks everyone!
@YRTi (Mas) - I held off creating any tool racks for many years because I was still acquiring tools. I will admit that it is difficult to know when is a good time to start. This isn't so much of a problem if you have a big shop, but mine is only 3m x 3m and two of the walls have window in them, so wall space is at a premium. I've had all my tools in plastic crates for sooooooo long and I just couldn't stand it anymore, so decided to take the plunge. Hope you eventually settle on the tools you want to keep forever and can do likewise.
Andy -- Old Chinese proverb say: If you think something can't be done, don't interrupt man who is doing it.