Joe McMahon asked me to post some pictures of my tool storage above my workbench so here it is.
These are the boards to the right of the window. I got the idea from on old Tools & Shops issue of Fine Woodworking so I cannot claim credit. Since I have sheetrock walls, it's difficult to fasten tool holders anywhere I want so these boards solve that problem. Basically, they are each just two edge glued boards with a French cleat to hold them to the wall. Then you can make any type of custom holder you want to hold each of the tools. Most of my holders are simple small shelves or pegs. There are also some cleat style holders for planes and notched shelves for things like marking tools. I like the wall storage as the tools are in easy reach and I always know where to look for them.
Rasps, files, saw sharpening files and spokeshaves to the left of the window.
The French cleat. The one to the right of the window is long enough to hold 4 boards. This also makes it easy to move the boards if I need to.
The holders for the planes.
Marking and measuring tools.
Chisels and my drawknife.
Saws are just held in a shelf with saw kerfs. Braces and hand drills hang between two pegs.
Finally, anything that does not hang conveniently on the wall resides on a shelf under the bench top.
So what type of tool storage does everyone else use?