Generally I tend toward the 'toolbox' system for tools, first-aid kits, etcetera.

I don't know exactly and precisely where the pliers are but I know they are within a couple of inches. Some things, like wood chisels and files can't be allowed to rattle and bang around if I want the edges to remain sharp. So I pack them into a roll that keeps them well ordered, more like the 'parachute' system, and protected while the roll rattles around in the larger kit.