Put this up years ago and I find it one of the best tool storage methods for my main work bench.
Pegboard is used on the inside of the cabinet and on the outside and inside of the doors so the wall space is actually tripled. Puts most of the tools where they are needed.
For the other areas like the lathe bench and the mill roll around I put individual tools in their tool boxes. The price of import tools is so low I find this an economic method. (Saves me many steps).
Picture 1 is the inside face with the doors open.
Picture 2 is the front with the doors closed.
Pictures 3 and 4 are the insides of the doors.
Picture 4 is just an auxiliary shelf unit for power hand tools.
The auxiliary shelving unit beside the main tool cabinet holds a few portable power tools.