This discussion has given me food for thought. I've been considering cleats in my garage. I appreciate the idea of making things interchangeable, based on my personal experiences.
When I moved into my current house 15 years ago, I installed a 4x8 pegboard. All was grand. I had a place to put all my most-used tools, gadgets, pieces and parts. Then over the years my needs and hobbies changed and my garage morphed. The pegboard that served me so well in the beginning, now stands almost empty. My tools have moved to boxes, bins and tool carts, where they are more portable and accessible to me. My work space has also moved from one side to another. Thinking back, would have been better to have french cleats, where I could move my cabinets, boxes and holders as needed? I don't know; I'm just musing.
Two of my main sets of tools, my automotive, and woodworking, are now housed in dedicated rolling tool cabinets. They take up some floor space, but are mobile. I've found this to be a big benefit to this type of storage. On the other hand, my walls are largely bare, and otherwise valuable space goes unused ... maybe? In my mind, french cleats may be the closest thing to rolling carts ... on your walls.