Wow, I was thinking about making another one out of wood. I made one for dad when I cleaned the garage last out of some scrap wood for his nut driver bits. I would love to make one like that, will have to get back up with my machinist friend.
I actually made the small one with my $40 HF drill press. just a little bit of more measuring, center punching and drilling pilot holes. on a mill, it's pretty straight forward with a 5/16 drill.
I've done something silimar with a scrap 2x4 and a spade bit in the cordless drill for my router bits. For some reason it never even dawned on me to do the same thing for all the 1/4" driver bits I have lying around.
I Had some extra Trex decking left over and did this exact thing but i used a smaller drill bit so if i dropped the holder the bits would stay put. ill post pics when i get the camera to the shop.
turned out better than i thought and will hold up longer than untreated lumber. But i really like the idea of using aluminum
there it is we were using it so i just put the bits in use in the side pocket but it sure is handy and makes finding a bit much easier than diggin through a drawer.