I am, though two things:

1. Buy some bigger bolts and be sure to screw it centered into studs.

2. I wouldn't use it for steel... at least not too much. pack it with 1x2, 2x4, etc. and it'll hold up fine. The steel on the lowest rung is probably equivalent in weight to the loaded shelf with the 2x4 above it.

Oh yeah, and put it higher than you think you want it... I had it lower the first time, on the other wall, wasted space above it, used up valuable space below it. I think it's about a foot from the ceiling now.