This is an older thread but it came up in my search and seems appropriate. another good thread. Also:
racks,
racks,
more racks, and
another. Many variations on the theme. I enjoy exploring what others have done.
I found a couple panels of slat system with some wire shelves on craigslist for $10. Seemed like it would be useful. I put it on the wall behind my lathe and, while the shelves work for tool holders (with a little expanded/perforated metal to fill in the wires), I sought improved density and visibility. I made the following as a prototype to try out and think about:
The wire is 3/32" TIG rod, since I have a bunch. The idea is that the wire shape gives compliance and adjustability, so it is pretty easy to make. It took me a couple tries to narrow my approach, but here's the bending tool I made and a measuring fixture (which was the original bending fixture; after this photo, I removed a few pins):
So far, I've just gone one bend at a time, then marking the next. With a little testing I could mark them all then bend them all, which would be considerably faster. The nice thing is that the design is very tolerant of variation, as once the wires are pressed into the support (wood in the prototype), they can be hand bent to get the desired fit.
Here's the overall setup, with some of the wire shelves for my remaining toolholders. I'll make another couple of the wire racks and keep probably just one or two shelves:
I do miss the splash shield that modern lathes seem to have. I'm considering making one at least for the portion around the headstock, just to contain the mess a bit.