Good idea for a thread!
^^This is what I see from my hide-a-bed couch: a 27" tube TV. It's nothing special, but it's got a pretty nice picture and, oddly enough, it has component inputs. I've got my trusty Xbox and newly aquired PS2, which I got free from my cousin. I plan on moving the TV and consoles off that gray stand and into the built-in space that's right behind it as soon as I can; the built-in is too shallow for the TV so I'll have to make a little extention-table.
^^Here's my couch and behind it on the wall you can see I've got the two rear speakers of my cheap but good $200 Sony 5.1 system mounted to the wall, which I really like.
^^And just for perspective, here's a distant shot of my room.
Yes, the ceiling is only about a foot or two higher than my head and it slants at an angle from both sides. You can also see my custom Fender Showmaster electric that I got from my uncle last Xmas.
I really like all the naughty pine walls; makes me feel like I'm back in the 70's even though I wasn't alive during that time.
I hope to sooner or later get a better sound system and of course, a nice LCD TV, although since my TV is only like 5 ft. from my couch, it's not really necessary.
Gosh, I had a 20" iMac G5 too, for a time; what a great computer. I decided I wanted a laptop, so I sold the iMac on eBay and made a profit which I used to get a 15" PowerBook G4. They had just released the MacBook Pros, but I didn't want to risk getting a laptop that might have bugs which they inevitibly did. It's funny, that laptop cost around 2 grand, which is about as much as what I payed for everything in my room.
Glad to have another Mac user here; Represent Mac Power!