I've never used a fly wallet or I don't ever think that I have ever seen anyone use one. I carry 5 fly boxes with me,some times 6. I like my flys to stand up straight,not be flattened out in a fly wallet.
I fish mainly in the State of Washington. I've never lost anything but if I did it would also take a long time to replace them. As I don't tie too many of them and at todays prices it would cost alot.
I put all my dries in one or two boxes,(I carry a lot of dries). the rest I just spread around. Leeches and wooly buggers in one. Nymphs and chronies in one. And one for whats left.
And yes watersprite is younger that you because I'm older than he is. Jim S.