My painting studio is in my bedroom, so I don't have a ton of room to work with. I've attempted to make the space as modular as possible, which allows me to put up and break down different setups when needed.
Hobby and painting setup:
The table is an old IKEA piece. It provides a huge amount of workspace and the wood/laminate combo is pretty cool too.
The wall-mounted storage bins are Stack-On, while the paint holders are actually nail polish racks. Both work great keeping my bits, tools, and paints visible, organized, and off the tabletop.
The drawer unit under the table is also IKEA, and works like a charm keeping bigger tools and supplies out of my workspace (if you couldn't tell, I'm a bit of a neat freak).
The big, heavy-duty task lamps - the grey and black ones are from my father's old home workshop while I bought the brown one at a neighborhood flea market a few months ago - are bolted into the table for stability.
The lamps on either side house OttLite bulbs while the one in the center uses regular daylight florescent tubes. Together, the three lamps provide more than enough light for hobby work, painting, and photography.
I purchased the spray booth new, then built the rest of the extraction unit out of a piece of scrap wood and a dryer-hookup kit from a local DIY store. It goes together fairly effortlessly and I haven't passed out from paint fumes yet, so ... that's good.
The light box is a generic kit you can acquire through any number of merchants on the internets. The lights that come with the kit are garbage, but the light box and tripod are really useful.
At the other end of the room I keep un-built kits (yeah, I have a lot to get through), supplies that I don't use on a regular basis, and my White Dwarf collection:
Big surprise, the above shelving unit is also IKEA, which I'm pretty sure is the official furniture outfitter of hobbyists the world over.
Overall, this setup works well for painting toy soldiers part time. Of course, a dedicated hobby room would be nice, but that's just not in the cards right now.
Till next time, keep painting.