Gary, You are probably right on the height. I am only 5'10" so that would definitely make a difference. As for tool storage, I built a rack that hangs on the wall above the lathe that all my tools hang in. If you look in my photos under shop, there is a picture of my lathe and the tool rack. I also like the idea of storage underneath, my stand is open and I find that it becomes a catch all. I do not have dust collection at this point so I just sweep up the mess when I am finished. I have heard the funnels work good for sanding, but not sure about the rest. The main thing is to make something that is functional for your needs.
Assumption is the mother of all foul -ups