I thought about using white oak for the strips/cleats and then maybe walnut for the holders. I live near a lumber mill and can get stuff at fairly low prices. Would you use boiled linseed oil or a poly for the wood or just leave it blank? I got so tired of pegboard--half the time I would reach for a tool and pull the hook out of the board. I like the idea of the French cleat so I can move or rearrange things as I wanted. There are some cool looking set-ups that people have. Thanks for all of your input!