Structural Question: Wood Rack install

Hiya, I'm getting ready to install a horizontal wood rack in my garage. The wall is 2x4 studs with 5/8" sheetrock covering the studs. I'm using the steel standards similar to what Lee Valley sells. The instructions that came with the standards recommend not installing over sheetrock as it may compromise the overall strength of the unit. I'm planning to set the 4 standards (32" OC as the studs are 16" OC) with the base of them resting on the concrete floor and anchoring them with 3/8 x 3 1/2 lag bolts into the studs. I'm wondering if this is not a good idea. I don't want to remove the sheetrock yet also don't want a few hundred BF of wood to come crashing down. I'm thinking most of the load should be supported by the standard resting on the floor with the studs supporting most of the cantilever load. Will this work ok or am I destined to remove the sheetrock? Thanks much, cc cubc at comcast dot net