Our current school room is in our living room. While I like having it central, I do not like having the TV in here! Our goal when we move again (hopefully by Christmas) is that we will be able to have the school room and the TV room separate.
We use an old dining room table and each child has an activity mat to help protect the table and to delineate each space. The table is set up next to my computer. This gives me a "U-shaped" desk area. Under the table is a file cart where I organize all our curriculum for the year and my planner is on the table. Hubby has a desk and a computer to the right of our school room.
Here is a collage of the kiddos hard at work in our school "room":