My own storage strategy is as follows:
Long Term - 6 packs and 12 bottle cases intended for long term storage are shipped off to Seckford Wines to be held in their temperature controlled storage facility.
Home I have 2 Fridgidair Wine Coolers (cost around £300 each)with a total capacity of 110 bottles. I only use these for port and there is very rarely more than 6 empty spaces. Around 50% of the bottles in these coolers are candidates for opening at any time (e.g. Smith Woodhouse 83). The other 50% are a combination of "Museum" bottles (e.g. Fonseca 30 Yr Old tawny bottled in 1976) and VP's that I have less than 6 bottles but are in the "Special Occassion" category (e.g. Graham's 1963 and my Nacionals). I would be interested to hear any views on long term storage of these more valuable wines in this kind of storage unit.
I also have a bedroom cupboard that I use to store dry reds. It normally has around 100 bottles in it but has a capacity of 200 so also serves as temporary overspill if Alex makes me buy too much port when my coolers are full.
Temporary Storage I have access to a "real" cellar in my Sisters shop which I use to hold cases that are destined to end up at Seckford Wines for long term storage. The cellar/shop are not secure enough to leave valuable cases in for the long term
Other Options I currently have some port sitting in Tom's cellar awaiting collection. Alex also provides me with short term storage for joint impulse purchases on frequent occassions - thanks to both

It would be interesting to read others strategies or any comments or advice you have on mine.
Derek