Not sure if anybody has thought about doing this but after searching for quite some time for foam that was actually affordable (craftsman and snapon make foam for this but it's outrageously priced) I happened to literally walk into rolls of foam at BJ's made for floor mats in garages.  At $17 and roughly 4x8 feet, it's a great alternative to the expensive "kitting" specific foam on the market.  This is big in Aviation, not sure about other fields.

Is it still fairly easy to grab a tool with them recessed so far?  Regardless, looks like a great idea!

Yeah, this foam isn't too think.  The wrenches are the only ones that sit all the way in, you can cut little notches on the sides of them to slide your finger in, but I just push down on the angled closed end and the wrench pops up.

how did you cut it out?

That's some clean iron!

Amilla

Yeah, this foam isn't too think.  The wrenches are the only ones that sit all the way in, you can cut little notches on the sides of them to slide your finger in, but I just push down on the angled closed end and the wrench pops up.

But only if you inserted them with angle up.  I do like the idea though, I keep one of the craftsman socket sets and a wrench set on the work table because of the slots.  All tools are supposed to back in sets before road tests.  Main tool chest is full of tool gifts, and leftover pieces of sets (other pieces probably lost on road tests), I would need to double the drawers to file them individually.
If I get a bigger stainless chest I will remember this.

I would need to double the drawers to file them individually

Me too, too much stuff piled up to be organized, and not nearly as shiny!

nice write up.