My tool storage system is pretty simple (sorry, no pictures). It's simply a rack with two shelves about 2' apart and 3' long mounted on the wall behind me. The shelves are 5" wide and have a 1" lip screwed on front and back so the tools don't slide off. The upper ends of the tools are supported by what was once a 2x4, drilled with 1-1/2" diameter holes every 2-1/4" and then ripped down the middle to make handle sized notches for the various tools. The assembly is mounted to the wall immediately behind me when I'm at the lathe and holds, at the moment, anyway, 6 1/2" bowl gouges, 3 3/8" bowls gouges, 2 1/2" spindle gouges, 2 3/8" spindle gouges, a 1/4" detail gouge and a couple of Lyle Jamieson's boring bars (standard and heavy) on the top shelf. The bottom shelf holds the stuff I don't use much like skews and, I'm almost embarrassed to say I even own them, a few scrapers. There're also some gimmick tools that sounded like a good idea in the ad, but..... All the tools lean back at about as 20 degree angle and I've never had an instance of a tool falling out of the rack. In my ststem, if a tool is in the rack point up it is freshly sharpened, point down, needs sharpening. (Minor point: I don't sharpen after a job, but before beginning. I don't want a sharpened tool to sit around in ambient humidity and corrode even slightly and thus be less than perfectly sharp. And, yeah, I'm kind of anal about sharpening.)
To my mind, more important than the exact configuration of the tool rack (after all, all it needs to do is keep the tools reaonably organized and not drop them of the floor or feet (ouch!)) is it's location. It must be in easy reach but out of the way. Mine is no steps away from the lathe. All I need do to get a fresh tool is make a 3/4 turn.
By the same token, my grinder is a half turn and one step to the right and my air tools are are a half turn and one step to the left, sanding equipment and supplies are on a rack above the air tools. I don't want any reason to even think about not getting a fresh, sharp tool when it's time, or the right tool when it's time to change. And when do I sharpen? Any time I don't KNOW the tool is sharp.
I know. I know. Long winded, but you ought to hear me in person. Anyway, my thoughts, for what they're worth.
Whit