Okay, I'm somewhat embarassed to post after seeing Bob's UltraWhizzo HiTech creation, but what the hell...
I've gone with a somewhat more
rustic sensibility - can't be bothered to paint it, as I keep cutting bits off of it and/or bolting new bits onto it. (It's on it's third different wheel (Logitech DFP) and second seat - so it's been redesigned a few times.)
Basically, it's just a rectagular wooden frame (5' x 2') with a tiltable pedal 'shelf', and a tiltable table that slides over the frame rails. The table screws into the frame for stability, but can (theoretically) be removed to be put away. This has never happened. The seat I got for free when my girlfriend's last car died -- though since I had to buy her another car, it wasn't exactly 'free', I suppose.
Oh, and it has a cupholder. (Which doubles as a remote control holder.)
But it's the 61' Sony that
makes it...
--jhb