I could also just get 4 female banana plugs and internally connect them in a little project box, correct?
Yes, but unnecessary. You can daisy-chain banana plugs from one supply to another (get the ones that have both a banana plug and a socket on the same end).
Also, I am thinking of starting some more threads about more lab equiptment like: Multimeters, Capacitance meters, O-scopes, Ect. Is that a good idea? Also, do you have any other ideas for those type of thread (Other types of equiptment.)?
Errr.....can't hurt I suppose. This is Bar Sport after all 
There's a current thread on Slashdot about oscilloscopes:
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