I think I finally have all the current punches up (including the new hearts - yay), and that leaves me with no room for the retired shape punches (remember the balloon, the safety pin, etc... I miss those), so they will remain in a couple of clear shoe boxes from the Container Store.
I did use the Stampin' Up! white bulk vinyl to punch out the shapes of everything that seemed practical, and put that behind each punch. I didn't use the second sheet that comes with the vinyl, I found that after punching the white vinyl, it sticks to the wall just fine for what I was doing.I think it turned out nicely, and I've actually had a chance to work in that area, punch something, and put the punch right back on the wall! Whoever thought of using the rods for punches was a genius!!! IKEA also had a paper towel holder and some cups (for Sharpie's & scissors) and clips that I can use too. They're the best.