I'm curious whether you all have your consoles aligned horizontally, like myself, or stand them up vertically. Personally, I think the 360 and PS3 look better standing up vertically, but I've heard that seating them horizontally is better for preserving the consoles in the long run. Not sure whether there is much substance to whether this would actually make a console last longer, but I've noticed the 360 and PS3 don't run quite as hot while they're sitting horizontally.
currently i have my ps2 vertical but its getting changed to horizontal soon with a saturn being sat ontop of it, my xbox 360 i've always had horizontal as i have a computer monitor sitting ontop of it. personally i prefer the horizontal alignment for stability and safety (basically so i dont knock them down when messing with wires behind them or falling around drunk) my Wii i have vertical in its stand i wouldnt mind a vertical megadrive attached to a wall or something just for randomness but not really practical lol.
I like how vertical looks, and it takes up less space, so vertical. Though most consoles only one one orientation, so there's not much choice here
360: vertical. PS3 looks really stupid in vertical position, so I just keep it horizontal. This also means I can keep it in a place reserved for a VCR or DVD player in my TV stand.
I prefer horizontal, but I will sometimes place a console vertically due to limited space. The PS2 actually looks kind of cool when vertical, especially if you have the vertical stand for it. I have the horizontal stand for it too, somewhere...