EDITED TO ADD:
This used to be a long post about my new fabric rack with loads of photos.
My server deleted my pictures, and in the meantime, I moved all my fabric to shelving and now use the wall rack for my television.
So, here's a picture of the rack, and of the rack with two pieces of fabric so you get the idea.
The rack with some fabric:
There are three shelves to this rack system, and I bought the whole thing from Ikea for about $15. Each rack holds 28 pieces of fabric.
It looked really impressive when I had two of the three racks loaded up with fabric.