I'm all about maximizing functionality in a small space- especially now that I know what it's like to decorate a NYC apartment bedroom (hello 10' x 10'). Furnishings that can have multiple purposes are key- for instance, I'm using CB2's TPS cabinet as both storage for jewelry, files, and notecards- and plan to add a cushion on top to work as an extra seat. Another option I am considering is to use my new waterfall console desk also as a nightstand. I've seen it done many times before, and here are a few of my favorite arrangements:
Another space saver I've taken advantage of is under-bed storage. The Container Store's under bed drawers are a lifesaver. Are you a fan of the desk as nightstand set-up? I hope everyone manages to get through the work day after such a nice long weekend!