the best place for all those new toys?

open. bin. shelving.  available at Target and Toys R Us.  

(hint:  Target's is 33" wide and $59; TRS is 42" wide and $44.  you do the math)

Ikea's Trofast drawer bins

are also a good way to go.  but not the best because...

there are three essentials for toy storage to keep in mind:

1. accessibility:  for kids this means not just easy-to-reach but also easy-to-see.  kids are not great archeologists.  they don't dig for long-forgotten items at the bottom of a drawer, they play with toys that are there for the taking.  
2. transportability:  little hands can carry lightweight bins from the playroom to the bedroom to the kitchen, all the stuff can get tossed in at the end of the day, and then back to the shelves.
3. toss-in-ability:  if you don't have to do anything else--sort, open and close drawers to find where stuff goes, rearrange it all to make room for a drawer to close--a quick clean-up becomes possible and even pretty easy.