That's a bit of a loaded question. Do you prefer seeing stuff in your kitchen, or do you prefer a more streamlined look with everything tucked away? Or is it most important to have pots and pans hanging within an arm's length?

Either way, I would not put wet dishes into a drawer: Water + cabinetry = shortened lifespan + possible mildew.

That would be a very tall drawer! Maybe not the best use of space (in case space efficiency is a consideration). I have seen pegboard-type pot-and-pan storage pullouts. Maybe others have more ideas...

I have both. I have a pot rack where I hang my most used sauce pans and a small skillet. I have drawers where my less used pots and pans and large casseroles go. I do have the drawers lined with clear, ribbed plastic drawer liner - easier to keep clean and no marks. The wall behind my pot rack is tiled to the ceiling. Water does not drip from them as I dry them, but if it did, it would hit the Corian countertop below and do no harm.

It’s personal preference, I think. I personally prefer drawers. If you are talking about hanging them inside a cabinet, the clatter that I image occurs every time I pulled them out would drive me batty.

Drawers get my vote!

We did all drawers when we redid our lower cabinets. We chose the island for all our pots and pans and had them made to fit everything we use.

I hate hanging pots and pans, so I vote drawers. Or a lazy susan in the corner, if you have one.

Hanging them in upper cabinets can be kind of neat if you can work out the spacing. I'm not very tall and prefer not to put large iron objects overhead though. Salex's "filing" system for skillets and lids is pretty nice--notice how it's peg based so that you can stack stuff on one side if you wanted to.

Currently I have extremely large disorganized drawers. Works.

Drawers or otherwise stored out of sight. Unless you have gorgeous copper cookware, the end effect is clutter - not to mention that rarely used items will inevitably have to be cleaned - but I am not a fan of open shelving in kitchens either for the same reason as all I can think is how gunky the items on top of my refrigerator get - inevitable mixture of gunk and dust.

I prefer drawers, as well. There is a cabinet insert for hanging pots and pans.

http://www.kitchensource.com/cabinet-organizers/rv-gld-w22-sc-7.htm