I have used a fly wallet for wet flys for many years with no problems, yes when you first take a fly out of the wallet it will look distorted, tie it on make one or two casts then look at it in the water right in front of you and you'll see the fly looks like it was just tied.
Speaking of fly ...

HI, I'm new to Flymphfourm, my name is Ed I live in east central Pa Schuylkill County to be exact, I tie flys and fish for trout, and naturally I'm always looking for new patterns .
Now about Saber Hooks, I use to use Mustad hooks, then I switched to Daiichi hooks, a buddy of mine use to sell them ...