We recently did a little re-do of our office / sewing storage / toy storage room. All of my fabric (except my scrap mess), is currently stored in that cabinet. Be careful if you open those doors... We found that glorious piece of heavy furniture at a local thrift store for $30, which I thought was a pretty good price. We used to use it in the living room for the TV, but thought that wasn't the best use of the storage space.
This is the desk area where my husband works. I'm showing you for two reasons: a) I love the antique table (purchased through Craigslist as a dining room set for $50) and b) that fantastic Pinaboard doily stretcher (that I found for $3 at a rummage sale). You can see a Country Living appraisal of a similar one here.
Here is a close-up of my grandmother's embroidery. I inherited these from her and adore her work. I'm very happy to have a good place to display them.