Wood magazine has a section on their website dedicated to showcasing various workshop designs. They have suggestions for designing 5 usable workshops based on a set of criteria. Also included is a gallery of the Wood magazine shop as well as reader workshops.
The workshops are:
The 3 Car Garage Shop (Single Stall) article is similar to my workshop. I have 1 bay of a two car garage. I was able to take a few ideas from the article. Design the shop fixtures so they can easily be re-arranged. As the shop is used it can be modified for optimum efficiency. When building cabinets use the same design and rough dimensions. This will make them easy and cheap to build. A workbench could be modified to work as a router table.
The magazine suggests many low-cost and readily available materials. Medium-density fiberboard (MDF), medium-density overlay (MDO) plywood, and soft maple. I use 1-by and 2-by material in my shop. In this area 2X4 kiln-dried studs cost around $2.70.
The entire gallery of workshops can be seen at: http://www.woodmagazine.com/wood/category.jsp?catref=wd122