That’s a solid concept—spin that rack on a good swivel bearing and you’ll have every tool right where you need it. Just make sure the magnets are strong enough for the heavier bits and the quick‑release doesn’t get stuck in the middle of a job. Keep the frame sturdy so the whole thing can handle a few hundred pounds of torque when you’re pulling out a big wrench. It’s a cool project, but you gotta watch the load on the shaft and the wear on the bearings.