My current corner is "stuffed" with a 50" LCD and a small stand. We're upgrading to a 50" plasma (Panasonic TH-50PX60U) and want to create a more minimalist look. The room itself is quite small for a home theater (14' x 14'), and is mainly used for watching TV. The current monitor is so slim, that actually the plasma won't be pushed any further back into the corner, but it will allow us to eliminate the stand.
Before:

I've chosen a heavy-duty articulating wall mount, the Sanus VMDD26S and the accessory VMCC-1 to mount the center channel just below the plasma so it's looking great at any angle we set the plasma at. (The mounts are overkill, but my wife really wanted the two-armed mount for more peace of mind.) With that decision made, we only had three things left: L & R speakers, component placement, and wiring.
I only have two components, a small receiver (Panasonic SA-XR55S) and a small DVD player (OPPO OPDV971H), so I've been looking at how to mount these discretely below the plasma. I've been looking for component wall mounts and although I found two that can swivel (Vantage Point makes a 3-shelf system, the AXWG-03S, and OmniMount makes the ECSP shelf), I don't know if they'd really look right for this corner because they wouldn't be aligned well with anything else, they'd always be off to the side and in the pictures I've seen of this, it just isn't right for us.
Then it struck me. Why not look into a 20" TV wall mount? They often have articulating arms, can support plenty of weight (not that my components weigh more than 20 lbs combined!) and would even work with a wire hiding system. EUREKA! Of course, there are zillions of options here, and we haven't decided yet. There are two different designs out there in general (This or This) and they both would probably work great. The center of the plasma will be about 25-30" from the corner so I don't need much extension to have it look good (and the components would look best closer to the corner anyhow, no need for them to stick out at all.) I feel like this is the "AH-HA!" moment of the project
I still need to decide on speakers and placement of them, and how it will all be wire to hide as much as I can with my less-than-Bob-Vila abilities. I'll keep the thread up to date as I move along.
For fun, here's a cardboard cutout of the exact size of the new plasma in the corner. (It's nearly the EXACT size of the current TV, minus the bottom speaker section on the TV) The placement is wrong, too high, but I was bored. I'll use the template when decided exactly where to install the wall mount:

Before:

I've chosen a heavy-duty articulating wall mount, the Sanus VMDD26S and the accessory VMCC-1 to mount the center channel just below the plasma so it's looking great at any angle we set the plasma at. (The mounts are overkill, but my wife really wanted the two-armed mount for more peace of mind.) With that decision made, we only had three things left: L & R speakers, component placement, and wiring.
I only have two components, a small receiver (Panasonic SA-XR55S) and a small DVD player (OPPO OPDV971H), so I've been looking at how to mount these discretely below the plasma. I've been looking for component wall mounts and although I found two that can swivel (Vantage Point makes a 3-shelf system, the AXWG-03S, and OmniMount makes the ECSP shelf), I don't know if they'd really look right for this corner because they wouldn't be aligned well with anything else, they'd always be off to the side and in the pictures I've seen of this, it just isn't right for us.
Then it struck me. Why not look into a 20" TV wall mount? They often have articulating arms, can support plenty of weight (not that my components weigh more than 20 lbs combined!) and would even work with a wire hiding system. EUREKA! Of course, there are zillions of options here, and we haven't decided yet. There are two different designs out there in general (This or This) and they both would probably work great. The center of the plasma will be about 25-30" from the corner so I don't need much extension to have it look good (and the components would look best closer to the corner anyhow, no need for them to stick out at all.) I feel like this is the "AH-HA!" moment of the project

I still need to decide on speakers and placement of them, and how it will all be wire to hide as much as I can with my less-than-Bob-Vila abilities. I'll keep the thread up to date as I move along.
For fun, here's a cardboard cutout of the exact size of the new plasma in the corner. (It's nearly the EXACT size of the current TV, minus the bottom speaker section on the TV) The placement is wrong, too high, but I was bored. I'll use the template when decided exactly where to install the wall mount:














Wait til this is done in a few weeks - I think it'll be impressive, and different than your idea, will all look like it's being suspended in air by some magical force 









