A large cutting center is my vote, but I think you can have it all! Just take a piece of plywood, cut it the size of your cutting station, add padding & an appropriate cover and you have an ironing surface. You can store this removeable top in a closet or against a wall or cabinet.
Search this board or online for instructions. There are lots out there, here's one:
http://www.quiltingboard.com/picture...d-t215439.html