Originally Posted by
altec2
Question: the bike rack hooks would undoubtedly place a lot of pressure directly on the wires--could this constant pressure damage the brakes, gears, or wires? Or loosen them?
"A lot" of pressure? I doubt that. As long as you're not also doing chin-ups from the toptube while the bike is in the hooks there's not enough pressure to damage the cables or the brakes just by hanging the bike.
You do want to be careful not to squeeze the rear brake while the bike is hanging in the hooks; that might put an inordinate amount of tension on the cable (since the weight of the bike pressing against the exposed cable along the toptube will prevent it from moving).
But it'll be fine for storage purposes. We've got two of our bikes hanging thusly.