Well, it's finally finished! And I love it!
The completed height (from floor - including spinner) is approximately 12 1/2". The width is 6 square inches.
I used quite a few sheets of medium weight chipboard, the Destinations paper by Tim Holtz (why would you use anything other than Timmy on this project) and lots and lots of Aleene's Tacky Glue.
For anyone wanting to make this storage unit you can view and print a pdf copy of the measurements here. You could also adapt it to hold most ink pads. The Ranger Archival ink pads fit in and jut out only about an inch or so. It came together in only a couple of days. I recorded making it (not colouring the labels) on Ustream and you can check it out here.
I made the labels by typing them up in a Word document. They are 1/2" high and 11 1/4" long so that the name of the ink could be positioned on all four sides of the ink pad. A pdf version of the labels is available here. (Please note this is version 2 of the labels as the first was missing Squeezed Lemonade - sorry).
The best part of this project is that it SPINS!!! Yay!
Here's a video of the storage unit in action (spinning).