I find it an easy and simple solution. I used a scrap piece of press board just like pegboard. The nails came off so I backed it up with plywood. I used tooth picks to level it out in the prototype. Then I got out the dremel sand drum and made room for the nail heads in the plywood so it would glue flat.
The original by Shaygetz was the backside of Masonite. I think the consistenancy of pegboard is best. Something like a pressed cardboard that wears . I had scrap lyng around. Homasoat may be a little soft. Pressboard may work.
For an update I am using 4 to 6 3/8 washers for weight. I handle the cars a lot and got tired of the device slipping off . I found a number 4 speed nut for a sheet metal screw. It holds the nail tight. I used a nut driver to set it on the nail with a tap of a small hammer. I only use one.
I recently read in another forum that this idea came out of Model Railroader in 1957.
Walter's has announced that it will carry the Lionel Line of Products. I wonder if this is bad for the Lionel dealers because now someone can order Lionel from any hobby store.