I have two choices here at home. I have a custom made (by me, built not bought) wood racing cockpit with a new SAAS sports reclinable racing seat out of a real car. The cockpit has no wheels but it has a flat wooden base and it's on top of carpet, so I can easily move it. So I can have it configured two ways:
1- When wife and kids are home and want to use the big TV, the racing cockpit sits at the left front corner of my home-cinema room, that way it's out of the way and I can even still watch TV from there if I want to. I sit low to the ground so my little kids (one 6 year old girl, 4 year old boy and 1 year old girl) can still talk to me and hug me goodnight. When the cockpit is in this configuration, I have a little low-line coffee table that sits perfectly on top of the cockpit, in front of the steering wheel and covering my legs and racing pedals. That works perfectly as a monitor mount and a place to put car magazines, remote controllers, etc. For this configuration I use a 24" computer monitor that outputs to 1080p and has a HDMI input. It's a bit small, but it's an upgrade for me as before I was using a 720p 21" monitor, plus it's not so small when I place it right in front of the steering wheel. My audio for this is a Turtlebeach P11 gaming headset that was cheap but gives great sound.
2- When wife and kids are out, I simply remove the little coffee table and drag the racing cockpit in front of our 42" LG LED LCD full HD TV. It's a bit small by today's standards but at least it's full HD and our cinema room isn't that big. Plus I'm on a bit of a budget as my priority at the moment is my project car that I'm trying to finish (currently upgrading to big Weber carby, intake, big camshaft, roller rockers and sports exhaust). I will be upgrading to a 50"-plus full HD TV. My audio for this configuration is my home cinema's 5.1 surround with big quality speakers, big subwoofer and Yamaha receiver.
My current wheel is a Fanatec Porsche GT3 RS V2 with Clubsport full aluminium pedals. I was going to upgrade to an Xbox compatible Fanatec wheel but not anymore as it won't be compatible with the Xbone and Forza 5 is pitiful with it's number of cars and tracks (I rather it looked the same as Forza 4 but had more cars, tracks, and races with more cars).
