My toolbar is located on the right because I'm righthanded and placing it on the right means shorter distances when using the mouse. This means less stress on shoulders and arms.
I have an idea to choose a tool even faster, while creating more workspace and less use of the mouse.
What about a specific key (combination) useable for your non mouse hand (eg.ctrl+shift), to make the toolbar appear directly under the cursor. When you use the same key (combination) again or after you have chosen a tool, the toolbar closes.
This way you will create more space in your workfield and you will minimize the need of using the mouse to get to the toolbar.
Michael Scott commented
For people who spend all day at the computer, reducing the strain on the shoulders and arms is really important. Therefore, I'm especially grateful for any measures that might help. Moreover, it also gives a psychological impact and affects mental health. I've been feeling burnout lately, and I think it's largely due to a sedentary lifestyle and stress at work. I found a source that helps me deal with this https://www.facebook.com/CalmerryTherapy/ For me, this is the easiest way to contribute to my health and get rid of the influence of external factors on my body.