Currently the gameroom resides in an unfinished basement. Here is what it looked like when I got everything moved in.

The horrendous green cabinets were always intended to be temporary because the were free and I didn't have anything better to use at the time. Unfortunately I could only hook up six consoles at time with this setup. All my games are stored in the drawers at this point. I also moved my PC speakers over to the console area and did without on my PC for a while.
Recently, I came into possession of some cheap shelving so I have rearranged things a bit. The Ikea shelf and the periodical shelf cost me a grand total of $5.


Before I got the shelving, the amp/subwoofer on my Klipsch Promedia speakers died. Luckily I had been saving an old 5.1 channel receiver from work and I am now using that to drive the Klipsch speakers. I purchased the cheapo 8" Monoprice subwoofer to go with it. It is decent enough for the price.
I really like the periodical shelf but unfortunately my wife despises it. Apparently she had assumed that the gameroom would be "family" space and that she got input on what goes there. I had to manage expectations a bit and remind her that we have a gigantic living room for that purpose. The kids have their own rooms to do as they please. She has the rest of the house + a craft room of her own to do what she wants. I didn't think that I was asking too much for a roughly 12'x12' area to call my own.
So the end result of our conversation is that I will be getting a wall as soon as possible where the periodical shelves currently sit. So I can put whatever I want in there and she doesn't have to look at it. The catch is that putting a wall there doesn't leave enough space in the room for the periodical shelf + all the other stuff I want. I played around with http://planner.roomsketcher.com/ but I just couldn't make it work.
So when the wall goes up, I am going to remove the folding parts from the shelf and move it in the garage for general storage needs. I will have to budget thinner shelves for the gameroom as part of the renovation.
One of the first things I plan to change is the entertainment center. I am going to build something that can handle two 29" PVMs and a 40" HDTV plus all my consoles. It will look something like this but without all the LEDs and glass.
More to come as the saga continues!