It would seem to me that the foam will take up a lot of space, but if it works...

In my searches over the years I have also came up on some other ideas:

Clear plastic tubing availiable at most hardware stores: comesi different diameters, it's clear so you can see the contents, will not retain water, allows ventilation when properly cut, will not snag hooks and will not break.

Used prescription bottles - waterproov as they are or if you drilll few small holes they can be "ventilated" - similar advange as above and a lot of "seasoned" andlers have a lot of them for free...

And of course there are these: http://www.planomolding.com/tackle/products.asp


few years back Shimano I think used to make molded boxes just for plugs I have three and I love them maybe you can find some of them on eBay?