Bill, I like your cabinet a lot. I think I will go this direction but mine will have to be totally enclosed around here or I will have wasp nests galore.
Dave
Dave,
I worried about wasps as well but so far no sign of them in the pump house. I find nests lots of other places though!
I wonder if they don't like the vibrations when the compressor is running or maybe don't like the cedar siding???
IMHO However you do it, make sure you have good ventilation.