Do you have a word wall?

Okay friends, I'm really torn on what to do here. I have had a word wall in the past and know that they can be great if used appropriately. However, mine sat and collected dust, never to be used. So the past two years I didn't bother with one. When I was going through my Master's program to be a reading specialist, another teacher mentioned how she put hers lower and on painter's tape so students could pull words to their desk and actually use the word wall. I also remember someone talking about using a pocket chart for the words so students could use them.

Here's my dilemma. I'm going to be working specifically with struggling readers in grades 3-5. These kids need as much exposure to reading as possible, but does that mean that a traditional word wall is the way to go? I will be in a very small room and will possibly be doing more push-in than actually working with students in my room. Plus my feeling is that I could and would rather have them searching through books they're reading to find words that fit into a pattern I may be teaching.

I saw that Tonya at Tonya's Treats for Teachers is using hooks to keep her words together (very similar to the pockets), so students can still use it, but it takes up a lot less space.

Here are my questions:

1. Should I keep the traditional word wall so words are constantly on display? 

2. Should I have a rotating word wall (also on display) that focuses on skills/vocabulary important for that particular time? - I probably will at least do some form of this anyway.

3. What is your opinion of the word wall on hooks? Do you think it could work for my situation? Or do I even need it?

HELP! I want to get into my class next week (if it's ready), and I want to start preparing things like this.