Well I got all the materials I needed short of the hangers and started the wall. I've made a major change to the project by omitting any rear paneling. Instead I'm just going to paint the area on my wall inside the black framing red. I'm hoping it comes out alright... I'm worried about the wall texture bugging the crap out of me when it's painted. The open back also makes installing the hangers easier. Here's what I have so far: