I'm cautiously optimistic about an accessory I just invested in. It's called the BikeHand - a wall-mount bike work clamp. 59 bucks on the Amazon.com.
Yeah, it would be nice to have one of those super-sweet Park stands... but at $150 up, they're a bit rich for my blood. And - I'd never use one frequently enough to justify the expense. The BikeHand seems like it will be an acceptable substitute for the shade-tree mechanic.
It was designed to mount on the wall, but I had other plans. I attached it to an 8-by-10-inch piece of scrap plywood with two 5/16 x 1.5 inch bolts, and clamp it into my Jawhorse (another nice piece of equipment, by the way). When it's not in use, it and the board don't take up nearly as much space as a floor-standing model.
I used it yesterday while fine-adjusting my rear derailleur, and while I was at it I put some new brake pads on the front.