I like cantilevered pallet racking since you don't have to worry about hitting the vertical pieces with the forklift. I prefer the single-sided cantilever rack because it goes up against a wall, which IMHO works better in a smaller shop.
You can make it as short or as long as you want. For instance, you could use 3 uprights spread (typically) about 3 feet apart to create a rack that's perfect for 8' pieces. Here's an example:
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Or you could do 4 uprights to create a rack that will hold up either 10' pieces OR two 5' (baltic birch) pieces.
Im looking for a deal on one for my shop right now...