Many guys I know use the Boltz racks, good stuff. Very sturdy.
I use cardboard boxes sitting sideways on wire shelves in my closet! Probably not ideal, I just don't have that much vinyl, nor do I listen to it enough... My collection is growing, though, and I'm not exactly sure what to do with it; I will probably line the shelves in the closet.
I have been considering doing some 24 bit vinyl transfers. Is it worth it? Michael Fremer of Stereophile often uses 16-bit CDs from vinyl to compare turntables! So yes, I'd say it's probably worth it. I have been meaning to go down to the local hifi with some killer vinyl in hand, and "tape" a really killer TT. That would be a fun experiment.
I use a UA-5, too, FWIW.