I just use a regular drying rack for my wool; I find that hanging my Shaks, etc. doesn't seem to ruin the shape of them. Once in awhile I will lay them flat on top of the washer, but that takes up a lot of space. Yeah, I can hear my mother yelling at me, as she was a true wool weenie, knitting all of her sweaters by hand.
We did have to get a bigger drying rack for all of the wool and lycra that can't be put in the dryer.