I think know if I DIY’ed it, I’d lay it out, think it was perfect…. and then want to change it again a few weeks later. My tool collection seems to evolve fairly rapidly, benefiting from a Father with a Snap-On and Beta tool account, and an eye for a ‘bargain’ (I didn’t need a second vice, or a bench grinder, but they appeared last weekend… ;-) ) Having the option to unclip and move the hangers appeals.
Wall space is little limited – could probably usefully panel 4′ x 3′ and hopefully a little less than that. It’s also got to fit around the existing shelving and the bench itself, which is bespoke from 2″ SHS to fit in the (bloody awkward) space.
Point taken about the mag-strips though – that could be the best option for the everyday stuff, combined with a a small cabinet for the rest, as you suggest.