I know the feeling...
I live in Manhattan where space is at a premium and I have a 57 inch hitachi. I have 5 components...a vcr, an audio receiver, a DVD changer, an HTL-HD receiver and a Samsung Direct-Tivo...Plus a Silver surfer.
I had two black partical board shelves cut to fit the largest component which was the dvd player. I bought screws that are made for brick and attached the shelves side-by-side over the TV and placed the components on the shelves. The receiver, vcr and DVD on one side and DTV equipment on the other. I drilled a hole in each shelf to run the wires through.
It looks good, my girlfriend doesn't even complain.