Got some 4x8 sheets of pegboard this weekend and paneled the bike room walls. It's a little sloppy, but this isn't intended to be a finished space. Plus I'm assuming that I will probably have to pull them down later for electrical and plumbing access. But this gives me a better feel for the space. From that I can tell that I have enough space in there with the bikes that it will work as a viable shop. I also got the theater room wired back up again, and wired one side of the kitchen, so finally I don't have an extension chord running across the floor to power the refrigerator upstairs.