After reading some of the gripes in the comments about you showing off only fancy and elaborate set-ups compared to the 'down-to-earth' setups from the earlier days of the feature, I decided to contribute my own to the proceedings.
My setup is basically cobbled together from bits and pieces, but it's mainly from my failed attempt at self-employment. My gaming rig is a now-underpowered Athlon64 3000+ with a 6600, but it still has enough grunt to play WoW on a fluctuating Internet connection thanks to the New Zealand telecommunications industry.
My monitor is a 17" ViewSonic LCD which has a few dead pixels on it (I've yet to replace it under the 3 year warranty) and stands on a complete VHS collection of Fawlty Towers. Before that, it was a 19" CRT which I donated to one of my brothers after doing a image quality comparison. (I can't say much here -- my monitor is standing on a giant book about Ghosts someone got me as a gift -- and John Cleese is awesome!)
My primary audio source is your standard Creative 2.1 Sound System which is probably 3 or 4 years old but it still does the trick. My install discs and patches are on a 250gig external HDD (among other things) which means I don't have to pull out my CDs.
The more unusual items are the ever-growing stack of paper (with a Socket 1 Pentium II paperweight), a mini-fridge with 8 cans of Mountain Dew, deodorant, a photo of my girlfriend and a cassette player which I jack into my PC in case I want old-school tunes. This all sits on a desk that was brought for my brothers, but it wouldn't fit in either of their new lodgings when they moved.
So there you have it, folks! The gauntlet was taken up and championed by Mneth who sent in a great comfy WoWspace to share with the rest of us. (I'm still lacking a mini-fridge of my own though, but I own having the sandals under the desk...) So who else with an 'everyman' setup would like to send in some pictures? If you're willing, I'd love to hear from you! Just drop me an email with pictures to readerwowspaceATgmailDOTcom as well as the scoop on what's cool about your WoWspace. After all, I can't feature what I don't get pictures of. ;)