I am always impressed with a well laid-out pegboard design.
However, pegboards are not for me.
1) No wall space in my garage
2) I'd rather not have all my tools on display for anyone peeking in to see
3) No security. At least a lockable toolbox will provide a few minutes of delay...or permanent delay for your dumber crooks
I would be game for a small 3x5 setup directly over a workbench for your basic hammers/pliers/screwdrivers though...
However, pegboards are not for me.
1) No wall space in my garage
2) I'd rather not have all my tools on display for anyone peeking in to see
3) No security. At least a lockable toolbox will provide a few minutes of delay...or permanent delay for your dumber crooks
I would be game for a small 3x5 setup directly over a workbench for your basic hammers/pliers/screwdrivers though...


If you work at it a little harder, I'm sure you can think of more mutually incompatible features! 
at one time a built a cart with a couple of draws and a 2' X 3' peg board on the back of it a small vise and a butcher block type top sold it to a friend when I left the job will try to get a picture next time i am around.
1/8" is the common size in all the lumber stores now , 1/4" is hard to find, at least around here
