A board is considered “quarter-sawn” when the growth rings run, more or less, perpendicular to the face of the board. Quarter-sawn boards generally have straight grain and are less prone to shrinkage, compared to other boards. These factors don’t come into play with the 2x4s you use to frame a closet—but it does with the shelves and cabinetry you put into that closet; you want those boards to remain straight, flat and stable.
My hand tools are stored in a cabinet built into my bench but my shop supplies, air tools, and a plethora of “misc stuff” is in a cabinet on the other side of the shop, and my clamps are mounted on a wall adjacent to my bench, where conventional wisdom says tools should be. I just like it that way. I run my DC overhead and drop down… because my floor is on a slab. My bandsaw is mobile so I can pull it out of a semi-alcove for resawing, otherwise it stays in place for small operations (20″ bandsaws are cumbersome to move, even on leveling casters).