UK University student Toby has got a great setup in his room. He's got a sweet triple monitor setup that doesn't take up much space and could easily work in smaller rooms of offices. The trick was to mount the 37" LG HDTV to the wall.
Toby's room is his makeshift living room, office and bedroom. He uses two monitors and one laptop as well as one wall-mounted widescreen HDTV to work and play. Another cool feature is that he uses the software Synergy to share his keyboard and mouse over all of his computers.
His TV is hooked up to his Xbox 360 and his MacBook Pro to play movies. If the Mac isn't using the TV, it uses one of the 19" TFT screens. The other one is hooked up to his server running Windows XP. See more photos and notes over at his blog or his flickr site. If you want to setup your keyboard and mouse to be shared with your laptop and other computers, check out this link for a step-by-step guide.
[photos by Toby]