While this could look a bit cramped and cluttered, it can look quite good, if you do it right. The trick is to place the floating shelf either by itself or between two bookshelves. Instead of choosing closed bookshelves, you should try and have something with the sides open. As an alternative, you could mount a series of floating shelves, say three on each side, over an entertainment credenza. Mounting another floating shelf above the HDTV won't make it feel too closed in. One of the main ways of making this setup look good is to use shelves that look like they are made from wood. A nice, deep stain will help matters as well. We like the "woody" look, contrasting high-tech devices like an HDTV with wood, making the overall home theater stand out. If possible, you should stay away from MDF-like shelves.
If you want to go for the minimal look, you could use floating glass shelves. These shelves would just be used for the components of your home theater system. They would make it appear as if the components are floating on air. This setup would be harder to accomplish since you'd have to get creative to make all of the wires disappear, by making them run behind a wall or using a board of some sort to hide them well. Using nicer shelves or suing a plethora of floating shelves are nice tricks to keep your home theater area nice and tidy. They can get cluttered quickly, thanks to video game consoles, media discs, and home theater components. (inspiration: Ikeahacker, images via Georgia Integiant)