I think it also comes down to what kind of case you need - it seems like there is no one good aesthetically pleasing solution for display, storage, or travel. It's almost like a production triangle - you only get to pick 2.
For storage, photo boxes suit my needs just fine, but I absolutely understand the desire to display collections prominently. I constructed these based on criteria I had set for myself, which was:
- Figure stands upright
- No two figures in a single space
- Elements can be grouped together
- Aesthetically pleasing
- Low cost
For travel, GM78's solution is likely as compact as you can get for cases available at retail (and you better believe I stood in Walmart staring at the Stanley Sortmaster Jrs. contemplating a purchase), though I'm also researching various types of foam (namely polyethylene) to custom cut for a briefcase.
I think when constructing or purchasing any case, you will want to establish (1) what is it's primary purpose (display/storage/travel), and (2) what criteria do you want it to meet?