Definitely gotta have a peg board for everything! Mine I painted quilt blocks on for added color. Here is the link to my room with a pic of the painted pegboard.
http://www.quiltingboard.com/picture...d-t132914.html
I like it near by so I can reach it easy to get what I need and then put it right back when I'm done. Helps the cleanup.
I too have rearranged my room as I cut a hole in the big brown desk to have my machine level with the desktop. SOOO much better. I also now have the cutting area to my left, the machine in the center and my ironing station to my right so it makes it easy to swivel back and forth to each work station. OH YES! You gotta have a swivel chair!!!
Have fun is the main thing! I did my room All by myself including the flooring!