As to paint schemes, this really depends upon a lot of factors. Do you have existing cabinets? Do you have an epoxy floor? Do you have plans to incorporate signage or a favorite logo anywhere?
I personally like a light shade of gray for garages and shops because it is light enough to keep things bright, but dark enough to hide scuffs like you would get with white walls. I also am a fan of the Gladiator cabinets, so light gray matches them very well, and it would go well with a gray epoxy floor. I've also thought about incorporating some corrugated tin for the bottom part of the wall (sort of an industrial wainscotting) and gray would go well with it also.
I'm not a big fan of stripes just because unless they were up very high they would be hidden by cabinets and things I put on the wall. They are also a lot of work when you are talking about a 3+ car garage, but sometimes they look nice in the right situation if they pick up an accent color. You see a lot of Harley guys use black and orange stripes because they pick up those colors in their signs and posters etc.
Now if you were the type who has a cherished red car along with a red motorcycle, then maybe you would want to pick up that red color in your accent stripe. Honestly you are only limited by your imagination, but I'd look at the things you can't paint and then match your colors to those. For instance if you have garage doors that are tan on the inside and have no plans to paint them, maybe you could work off of those as your starting point.