I really like Butch's Cigar box setup. It's a shame I don't have a cigar store near me.

I also like Dave's arrangement. Mine is similar, although not nearly as elaborate.
My setup has evolved from piles of mailing envelopes that kits arrive in, to cardboard boxes with dividers. I knew I needed to be better organized, so over the last several years, I have been visiting the local goodwill - they seem to have a fairly constant supply of plastic bins, drawers, etc. I have been slowly collecting my items and putting them to good use.
Here is my Kit storage. Each drawer can be divided into 6 compartments. I gave the left and right sides of the drawers letter designations. Each drawer has 2 letters. I store different kits in each drawer/compartment. On my instructions sheet, I write the Kit drawer letter, so I don't have to rummage through a pile of kits.
I also have smaller drawer units that where I store my bushings. I number the drawers sequentially, so far I am up to 24 drawers. Each drawer has 2 compartments, so I call them a & b. I write the bushing drawer # and a or b on the instructions sheet as well.
My biggest challenge is keeping all of my raw materials organized. I have veneer in one flat drawer, I have fish paper in another. I have brass, copper, aluminum, and acrylic sheets of various colors all over the place. I also have a ton of lumber. I try to organize my cutoffs, leftover pieces in one small drawer unit, and I keep blanks I have bought, blanks I have stabilized, and blanks I have cut from boards in a 3 drawer unit
Lastly, because I am so happy with my new Laguna 1216 lathe, I thought I would throw a photo of it on here, along with the extended stand that I turned into a small workbench with storage for my lathe, as well as glues, sandpaper, etc.
