Here is my future project:

Current equipment:
42" TV
Ascend Acoustics Center Channel
Dennon 789 AVR
To the sides are a PS3 Slim and my HTPC (In an Antec ISK300 case.
I also have some Blu Rays and networking boxes (modem and switch) which could take up extra space.
This is going to go in the corner of the living room. It's going to take up a fairly large amount of space but that is desired. Also, I'm renting my house so when I move it will still work on a flat wall. It also leaves plenty of room for future equipment and a larger or wall-mounted TV.
The current layout requires two 4'x8' sheets of plywood or MDF to build. I'm unsure if I want to veneer the edges or use hardwood. If I went the MDF route some sanding and thick paint should produce a good enough result.
I also could use some input on the following:
*Cabinet area: Does there seem to be enough breathing room for the Denon 789 AVR in the bottom middle? What should I do about the rear porting on my Ascend center channel?
*Cable management: I can't really cut holes in the back on the side compartments.
*Back material: I'm thinking it will have to be more plywood or MDF because of the very exposed sides
*Feet or wheels? I like the sturdiness and look of feet but the ease of moving on wheels.
*Doors for the sides: I think glass doors are right out for DIY with the rounded edges. What about speaker fabric over a curved frame. Any experience with that?