Steve, I am going through the same process now too. Bought my friend's tool collection for my kids. Same cleaning/ ID /sorting process going on.
Just wait until you get to the Allen key sorting. I'm still in the process, got a bunch of standard sets, still have to do the metrics.
The drill bits went to a friend since I have plenty from my father and FIL. The drill bit sorting for me was not as pretty, but got sharpened sets out of them