In a small shop open floor space is valuable so I'm putting as much as possible on the walls. So far I've completed two clamp racks and started the tool rack, just need to make the wooden tool holders. Its all made from scrap wood and a load of barn board I scored for free. Still have the tool cabinet to do. The tool rack is from a similar design found in FW issue #160 published back in 2002.
The french cleat will be fixed to three of the four walls, and the nice thing about this system is that you can move the racks around the shop as required, flexibility is key in a small shop (21x23'). The cleat is made from 3/4" mahogany and all the other framing pieces are 3/4" mixed hardwoods, each rack has 3 points of contact with the wall and sits tight within a 45 degree angle on the cleat.