All the previous suggestions were great! I have a friend that has a bulleting board to tack on project ideas and all those free patterns we seem to accumulate from the web. She also has a pegboard that covers a large area right in her area where she cuts. It hold all her rulers, gadgets, scissors, etc. No more going thru drawers looking for that special pair of scissors!
The pegboad is on my husbands honey do list!
P.S. I also just turned our basement into my sewing studio! One corner has a TV and two recliner chairs and the rest is my studio! Since the basement is so removed from the rest of the house, it's nice to have a place for my husband to come down and hang out with me and it gives him a place to sit and relax.