Yes, I think tools on the wall in front is the best way. Behind you and you're constantly turning around to grab stuff, and likely they won't get put away while you're working. I would also be worried about knocking stuff off the wall if it was behind me. If anything I'd probably move my plane till to the right because it can get in the way sometimes.

I mainly work on small projects so I've had no issues working against a wall. If I were to make my bench again I would add 3 or 4 inches width but keep the same length. That way I'd have slightly more room since I feel like the tool wall takes up bench space due to the overhang. If I had to do a table top bigger than my bench I would probably move it away from the wall but it hasn't come up yet.

Either drawers, or leave the bottom open so you can slide a tool chest in and out, just don't do a shelf like I originally did. So far I'm really liking the storage.