When I first got into hobby machining, I made these two bench-top tool blocks -- one for my mini-lathe, the other for my mini-mill. They sit on the bench just to one side of the machines, and hold the most-commonly used tools for operating them.
I made the blocks from a section of 4x4 wood commonly used for construction. They are heavy and stable enough that they don't tip easily, nor move around with vibration.
I made the round holes with my drill press. The oval holes and other features were made using my mini-mill. The blocks were made without benefit of a router, hence the rough edges. Still, they have served me well for several years.
The grooves along the front hold my shop-made scribes. You don't want to store a scribe with the point up, and if you put them in a hole with the point down they will stab into the wood and tend stick.
The metal tube is a snipe that fits the drill chuck key (and is used only for loosening the chucks). The wrench with the brass attachment is a "nut buddy", used for the mini-mill draw bar. The box wrench end tightens it, the brass cylinder is used as a hammer to release it. Both are shop made.
The T-handle hex keys have a ball end on the long shaft for easy access, and a straight end on the part sticking out of the handle for tightening and loosening while using the long end for leverage. I highly recommend these over the usual "L" style hex keys.
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