Pegboards are awesome for the kitchen. Don't worry about JC Penney pegboard, though. We've got most of our cooking utensils hanging from a 2' x 4' white pegboard that we got from Home Depot for $10. The variety pack of hooks and hangers to go with it was $5. You see, our kitchen didn't come with drawers...
I suspect it doesn't look classy, exactly, but we figured that since a kitchen is a workshop, you've got to have the tools within reach.
In principle, it's genius. But the timber-plus-tyvek combo says "shipping and receiving department" more than "comforts of home"... however, if I ever get something shipped to me in a big crate, this inspires me to turn that crate into furniture.
