So .. I decided to take pieces from some old computers and build them in a drawer under my new LCD TV
Disclaimer - be aware of the heat generated from the computer and make sure the environment is fire-prof (all surrounding material) - I have no liability if your house burns down .
We have temperatures reaching 38C in the summer and I keep the drawer slightingly open (with a plastic box preventing full close) to enable improved ventilation .
Step 1: Ventilation
After removing two drawers to get access to the back of the drawers - I made three circular holes and placed a fan on the center one (with a filter) - Air will come in through there and out through the other two (hopefully after taking the heat from the computer).
The other two are also used to get power and audio in / out .