I can tell you from experience that both ideas work fairly well. I use a notebook for a jewelry display that is easy to travel with. I use velcro on velvet pads so they can be changed around within the notebook. Mine doesn't revolve, though. I just made from an actual notebook. I put layers of bubblewrap between the "pages" to protect the jewelry when I travel. The whole thing then goes in a plastic bag.
I bought another organizer-type (Mead) notebook for beads and findings. It has a zipper that goes most of the way around it. (I use something else to close the last inch.) I use pages that were made for photo slides or business cards, and put the beads and findings in zipper bags in the pockets. I have heard that there are pages made for embroidery floss that might work better, but I haven't gotten to the craft store to check them out yet. I happened to have a bag that came with a set of luggage, and the notebook fits in it just right, so I can use the shoulder strap. I keep tools in an outside pocket in the bag. There is also another zipper compartment in the notebook where I put wire.
The main advantage of this is that there is no wasted space like there is if you use boxes. I rarely make jewelry unless I'm traveling, so I need to have things organized in as small a space as I can. Since I'm addicted to beadcaps, some of the pockets are pretty full, and I have to pull different ones out to get to the ones I want.
If you are developing something, there are definately improvements you can make over what I am doing. It would be nice if there were many sizes of pockets available, and it would be nice if those pockets would close. I use removable masking tape on mine, since they don't have any flaps or closures of their own.
If you would like any more input, email me.