[whiw]

The magnetic drill bit rack might cause the swarf to cling to the drill bits.

I use plastic picture/poster hanging grips to cover saw blades, and lengths of 4" plastic waste pipe to store dowel and metal rod.

[JKCalhoun]

Yeah, I avoid magnetic solutions to holding tools. I hate magnetic tools.

[logical_proof]

Not to mention those drill bits will not be nearly as nicely organized once you turn the drill press on…