Nice idea.... but your gear must be much cleaner and shiner than my dirty, old stuff. The same thought has crossed my mind, but when I look at the items I have in my pack, I just can't imagine any of it on a wall.
It sounds like my apt is somewhat similar to yours. What my GF and I have done is have some large prints and maps laminated and wood mounted. It's way cheaper and looks much nicer than framed prints and maps, and much more modern.
The process is explained really well at this website: http://silvermapleeditions.com/services.html
What I think would look best would be (a) a huge, laminated wood-mounted map of a favorite backpacking or ski area, (b) a pair of ice-axes (maybe one modern and one antique), and (c) some wood-mounted prints from some of your trips. I would leave the gear in well marked tubs, ready to be used.
Good luck with your design!