I've been fooling with similar flybox setups for my tubes, nothing ever seemed very 'handy' or space-effective. On a trip to Labrador last month, I tried this system, and I found it pretty good. Just a lanyard of old flyline strung with safety pins, a couple of different sizes. I kept the bundle tucked in a shirt pocket, pulled it out to change flies. Got a few funny looks from some of the boys on the river -"nice necklace, dude!"