I'm installing my butcher block countertops this weekend, and I'm contemplating cutting a long, thin slot in one end, near the wall, to hold my knives. It'd be well out of the path of any drawers or open cabinet compartments.
I have friends with this setup, and they say they like it -- but they aren't really cooks.
The only downside I can see is that I can envision the possibility of bending the knife by accident, and the blades may occasionally knock into one another.
Any other pitfalls I should be aware of?