My wife likes to keep things nice and neat, so our setup is completely out of site. You wouldn't even know two gamers live here.
But look at all the goodies inside the cabinet:
Ok, so it's kind of messy, but it does the job!
That's a 42" Panasonic plasma HDTV (1080p), a newer old-style (if that makes any sense) Xbox 360 Arcade w/ a 120GB HDD from an older Elite, Nintendo Wii, some sort of VTech thingee, and a 5.1 surround sound system (unfortunately, I only have 2 speakers... fail). All of our games and movies live in the black cabinet to the right. Straight across from our couch is a fireplace which keeps us warm and cozy during our winter co-op sessions.
In case you're wondering, the doors of the cabinet are glass and my wife sponge painted the back of them to hide the contents of the cabinet. They look pretty nice and somehow don't block IR remotes. We used wrapping paper for a while and that worked too. I don't quite understand how IR can penetrate wrapping paper and paint, but who cares! It works!