They do work well for fenders but there's a ton of dust in there so I try hard not to put tanks in there.Be aware of the size of a fender,if it just fits in there it'll be hard to reposition it and next to impossible to see what you're doing on the ends.Big cabinets get pretty pricey too.
I made one and it works pretty well only wish my compressor would keep up. After dealing with the dust problem like Rex said - by the way my cabinet is home made- i took a hole saw and made a hole for my shop vac. hose in the top corner of the cabinet works real good