Yesterday I completed a cart for sheet goods and clamps which freed up the wall space where I planned to put my wood rack. Today I built the rack. The uprights are laminated 2x4's and the wood supports are chrome plated 1" solid steel stock which I recycled from barbell sets. This project taught me a few things:
1) When you are working alone with long framing lumber and need to keep it aligned until you are ready to put in permanent fasteners, a finishing nail gun is your friend

2) When you are driving 30 3/8" x 4" lag bolts, a pneumatic socket wrench is DEFINITELY your friend.
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3) Despite having a darn near brand new drillpress and a sharp forstner bit, drilling 42 1" holes gets rather tedious

I checked the budget and found I was about $4000 short of funds to buy a gang drill machine so I used the drillpress and took frequent breaks
4) A piece of 4/4 pine on top of a laundry basket on top of a bar stool is not the best possible substitute for a roller stand when drilling near the end of an 8' 2 by 4 on a drillpress.

The good news is that this has given me an excuse to buy a proper roller stand or two

