I've been leaning toward the multiple wallets for gear holders for a while.  I just upgraded my key case to a bigger key wallet.  It has a small pocket on the outside that I now put my arc AAA and my 128M USB Flash drive in.  It has an inner zipper pocket which I put in a watchband compass, a p38 and some band-aids.  I have a small knife in the other pocket inside and it has a bill pocket like a normal wallet where I'm starting to put some spare cash.  I have my house and vehicle keys in it as well.  Then I have my regular wallet with money, cards and spare keys.  I'm going to use my old key case for keys for all my tools and gear storage at home.