We built this tilt-out cabinet for our trash and plan to build a matching one for our recycling. We modified it a little and used bead board on the face of the cabinet to match some other elements in our kitchen. We painted it bright red using some leftover paint and absolutely love it!
We ended up not using any mechanism to prevent the drawer from falling to the ground - the trash can we purchased is JUST big enough that it stops the drawer from opening all the way, which is great!
There are more pictures below and on our blog, http://strawbridgestuff.com