Steve,
I wouldn't choose one over the other. I have both in my shop. The roll-away is for the common tools that roost best in a toolbox...end wrenches, socket sets, screwdrivers etc. The pegboard lends itself to things that don't do well in the tool box like handsaws, framing squares, c-clamps, rolls of duct tape and the such.
The only drawback to the pegboard in my shop is that all those hooks end up being a catch all for what ever can be hung up, or hung on them.
Stuart
