I ran a manufacturing business and use the same system now that I'm a hobbyist. Frequently used tools (chuck keys, tool holders, wrenches, scratch pad, files, lubes, file card, etc.) within arms reach. Measuring tools sit on top of the head stock while in using the lathe but get put away in drawers every night. One of my chucks is heavy enough that I keep it on a shelf, in a cabinet near the lathe, at the level I will be handling it. Same goes for the rotary table because my old body doesn't like to bend over to move heavy stuff. Other chucks, centers, collets, tooling etc. reside in roll around tool cabinets that are about two steps away. Most used items in the upper drawers. As time goes by things get added and the original layout becomes less efficient. Things get put where there is space. Everything gets put away before I leave for the night, floor swept. I cover the lathe with a heavy drop cloth when I'm not there.