We had an old trunk as a coffee table that came from DH's life before he met me. Our older cat at the time puked on it a few too many times AND I got sick of it taking up space in our small living room. We gave it away and have not regretted it once. It used to hold all our family games. We also gave away the entertainment center we had at the time, which was really big and a waste of space. We purchased a more useful entertainment center (2 pieces; but overall smaller), which had space for games and the TV and electronic equipment and a few knick-knacks. Once DD was old enough to know better than shove things into the electronic equipment, we gave away the top portion of the entertainment center and moved the equipment down and ditched a few pieces so it would all fit. Less knick-knacks, too. Then, in May 2009, we had a major flood and that entertainment center was the only piece of furniture ruined in the flood. Particle board swells something awful when sitting in ankle-deep water.
Out it went. We replaced it with an even smaller entertainment center (technically called a TV console), which holds everything we need and has zero room for knick-knacks and takes up less space than anything we've owned. That and new flooring from the flood, and our living room looks WAY bigger than ever before!
We do have a couple end tables and a small, oval-shaped storage ottoman with a reversible lid to hold beverages. We mostly use it to rest our feet during movie night or when playing on our Wii. Once in awhile, I flip the lid over for hot tea or hot cocoa. We mostly drink water in the living room and place it on an end table or the floor. We also have our speakers on either side of the large sofa and I put a coaster on one of them for water.