I was surprised how quickly the tacklebox thing didn't work for me any more. It was too small almost right away.
I have a computer desk cabinet that closes up to look like an armiore. I just modified it by putting some nails on a small board to hold the thread, and some hooks here and there.
It was my wifes' idea to remove her Precious Moments cabinet collection, and put my desk there. No kidding. Yeah, she's a keeper.