Long time since last post but my project and dreams of owning an airplane have not died. New house, new job responsibilities, family activities and living on a lake (with a pontoon) have seriously cut into my ability to make any time for the shop.
However, I did manage to hang a new pegboard; 1/4" from Menards vs the flimsier 3/16" stuff from Home Depot. I also made a new hanging tool holder from a 3/4" board with holes drilled to properly accomodate all of my screwdrivers. Now they all hang vertical and snug compared to the standard plastic hanger that came in the pegboard "starter kit".
Also took the cabinet that had previously service office duty in my Flushing, MI house and in Texas and hung it in the shop. Didn't really fit well with the office in my new home.