If I ever get organised I might build a decent tool chest, but I can't see that happening any time soon. For now, I keep my tools in an old school cupboard in the workshop and carry those I need in a canvas tool bag that's about the same age as me and in similar condition. Originally it belonged to an apprentice boatbuilder and was custom made by a sailmaker, so although a little frayed by the slings and arrows of outrageous fortune it remains essentially well stitched, and those manila rope handles have only grown easier to get along with in tufty old age.
What I most like about this bag is the almost complete lack of compartmentation. There are a couple of deep pockets on either side of the bag, handy for smaller items, but apart from that the tools rub along as one happy family - edge guards and a wrap of old denim where necessary prevent anything getting damaged. And because the bag is only eight inches deep you can see everything at a glance. In principle, it's not very different from a 19th century carpenter's tool basket (scroll to bottom right of the link to see it).