I have hung shafts in the past, but have not found it to keep shafts as straight as standing them up in my closed personal box during the last small passes. Keeping them out in the shop during those last small passes hanging has allow some to warp. So all my shafts are stood pretty much straight up in racks. My private box has small squares to hold the shafts straighter up that my larger racks. But they seem to stay straight or warp either way they are done. Some wood is just unstable and hanging them just puts off some of the warping they will do later. I would rather toss the shaft than have it lose it's stability once in the customers case laying on it's side.
