It's a decent size space, definitely enough for a few musicians to feel comfortable, and I may actually have room for one of my other kits to be set up. The best thing about the space is that it has a garage door on it, and is on the ground level...no more hauling gear through the house and down into a dank basement. I also discovered last night, while hanging the guitars, that the room is fully insulated, which means it'll stay cooler in the summer, especially with a berm on the left side of the garage.
The loft area is perfect for all the extra drums and stands I've acquired over the years.
Since I also set up the workshop area in the same area, some of the organization involved cleaning up this area. I got a couple of locking file cabinets from a local office outfitter/wholesaler, one of which will be painted and put inside by the desk, and the other (more dented) one is being used under the workbench for miscellaneous tools & parts. I also found out that the support beams for the loft were about 48" apart, the exact width of my shop light, so I added that along the wall above the extension cords, and am considering adding some shelving along that wall for some extra storage space.