This is my main gaming setup. Laptop and xbox hooked up to an Asus VH236H (i think that's the model number) for low lag gaming.
I have a small shelf nearby for holding PC games and the 360 games I'm playing recently.
I keep my arcade sticks, controllers, and other cables in a small storage unit near the desk.
So glad I bought one of these when they first showed up and were legit from sega and cheap. Now every version of them for sale on ebay is a cheap chinese knockoff that breaks quickly.
PS3/Wii setup in the living room, with controllers and other stuff in the shelf below. I have HBC with all my games on the portable hard drive there for the Wii. Very convenient, not having to ever mess with the discs.
Living room setup is a 42' plasma that I kind of hate because of how laggy it is, but for stuff that I don't take too seriously and single player games its okay. I have the kinect hooked up in here and will sometimes bring the 360 into the living room for it.
The other side of the TV with the smaller cabinet and receiver on top.
The far side of the room has the reciever on it and this cool PS1 analog flight stick.
Inside that second cabinet: lots of older systems and my xbox1 games.
On the other side of the room I have a small table with a regular CRT for older games and my giant awesome cabinet for storage of all my game discs/cases.
On top of the tall cabinet I have my longboxes displayed. Not even halfway there to a complete set yet!
I really like these shadowboxes for displaying the longboxes too - kind of pricey to do this for all of them, but I like it for certain box art that I think looks cool.
Inside the cabinet, it looks kind of like a mess, but when its not in use it looks nice.
The rest of my stuff is in boxes behind the couch or in the attic. I keep the cords/controllers for all my older systems in individual boxes. That way if I want to play N64, I bring out the box with the N64 stuff, etc. Works well, reduces clutter.
And here's a few photos of our rabbit, just cause he was in the living room when I was taking these.