I bought an nGear HDBase T device that allows me to run a HDMI signal over 60 ft to my Home Theatre system.
My computer is in the bedroom connected to 3 24" monitors, mouse, and keyboard. With Catalyst profiles from AMD I am able to switch my output to my living room with a press of a button.
In addition to this I also bought a 82ft USB 2.0 cable to allow me to run it from my bedroom to the living room, connect a USB 2.0 hub to it and a MS wireless controller adapter.
I control the PC in the living room with the controller by mapping mouse movements to right analog stick, and left click to right trigger using xpadder.
I love gaming from the couch, but reserve the hardcore gaming for the mouse, keyboard, and three monitors.