you shoudl insulate and put up sheetrock or plywood.. with just pegboard.. all sorts of dust, spiders, AND snakes can get in between your work benches and walls and live with you...
LOL... No Profish! This is how it should look ( I knew one of you would tempt me into posting pictures). My garages actually look a bit different right now but it's mostly the same, these pictures area couple years old.