One problem in using older-style pegboard hooks is that they tend to pull out when the tools are removed. One way you can solve the problem is to insert them into the pegboard and use a hot glue gun to fasten them in place. In a minute or so the hooks will be fixed in place, although you will be able to wrestle them loose whenever you want to rearrange your tool storage. Another solution is to buy newer-style hooks that will lock in place with just the turn of a screwdriver.
A 4-ft. T-square for drywalling can come in handy for other projects. Besides being helpful in drywalling, it can be useful when laying out patterns or cutting on full sheets of plywood or particle board. The square is accurate, stable and will give you a full 48-in. straight line. Some newer versions come with a head that can be adjusted to various angles, then clamped in place.