My den setup: eventually I may put up a screen and projector since actually the space would be perfect for it, but for now, this is stand-in enough for "home theater" for just my wife and I. (Pics are from Jan of this year, but nothing much has changed).
56" Samsung DLP/1080p, some crap speakers, and (shown) crap Philips surround unit (came free with the TV), PS3, and Wii. Also not-used in ages DVD players and VCR.
Just around the corner is a closet with a custom PC setup, the main running both Win7 and OSX, with DVI-to-HDMI cables running through the wall to the DLP. Media server with tons of hard drive space for movies and TV shows. Also several DirecTV sat receivers, HDHomeRun network tuner, and router equipment. Looks are unimportant, all of it is the way I like AV equipment to be:- blissfully beyond sight or earshot.