It does take up less room (not much less) except that you have to keep a chair around that is the right height so now the chair takes up room too.
I bought this and my first tools together. I saw it and when I was looking at it the guy came up and said that this goes with it. He then pulled out a tackle box full of tools, a box of leather scraps and some already cut for spur straps and some books. I got him down to $75 for all of it. There was probably $150 to $200 worth of tools in the tackle box! Thats how I got started in leather working. I had been looking but I thought I couldn't afford the tools that I saw in the catalogs. The good Lord was watching out for me.
ArtS