I'm sitting in a recliner right now with my laptop on my lap. It's prefect for gaming as my mouse wroks great on the armrest. For consoles I'll either stay in the recliner or I'll use my Videorocker chair(or what ever it's called) and I use the built in speakers on it either way. That thing has excellent sound quality, I can turn it about 3/4 of the way up and hear the bass out side fairly undistorted.

I'm usually doing 2 or 3 things at the same time.. sometimes I'm playing another game! hahaha. I like to play games, and I like to condense them. I'll play Earthbound 3 on my PSP, Fallout Tactics on my PC, and Fallout 3 on my Xbox 360. It gets annoying to anyone who watches me because I just randomly switch off between them, and then posting here... I find posting here to be very rewarding, helping people is very satisfying.

My preference is to be alone when I game, unless it is a local Multiplayer game. I have a nice comfy office chair and way to many consoles at the moment. My PC is an oldish laptop, at the moment, so I can't play many new PC games on it. HOwever my roommate has a really nice gaming rig, so that is where I play newer games. (Fallout 3 comes to mind.) Since my roommate has kids that come over a few times a week, I tend to keep most of my consoles out of my room so they can play them. However the Wii has been in my room with a fine collection of Gamecube and Virtual Console games...(of course I have 2 Wii games, but the main reason I got a Wii is for the "older" games, believe it or not.)
I have a fondness for single player Role Playing Games, so that kind of helps my solitary "shut out the world" gaming style.

I personally like to use the tried-and-true smoke-and-a-Coke configuration while comfortably laid out on my nice couch. Also, for sound, I use my headphones since I can hear the ambient sounds better than with speakers especially when playing games like Thief where it is absolutely crucial to know exactly where a sound is coming from.