The Devil's in the detail  

Some things that work for me
Some things that have worked in my small space are:
curtains - I found a nice graphic print that matches the colors in the room.
Ceiling lights - I have a WEP light, a George Nelson Bubble lamp would work, or a sputnik.
Small accessories: Eames Wire tables, Aalto Stools (or the Target/Ikea knockoffs)
Artwork/Design posters - my roommate has some beautiful screenprint ads - not vintage MCM, but nice design sense to them.
A nice rug, or some FLOR tiles.

agreed on the above remarks
You could also obtain some MCM ceramics. Many people collect Russell Wright. Getting some good throw pillows for your sofa could be good, perhaps some Alexander Girard designs. You could also get an interesting mobile. There is also getting some nice plant stands and/or architectural pottery with some well picked indoor plants. You could buy some vitra miniatures as well. Sorry to ramble.

No that's great. Please...
No that's great. Please ramble on! Any ideas about what to put the TV on?

Well, I have thought about...
Well, I have thought about this topic. I usually like the idea of using things not usually intended for TVs. Perhaps a simple table. I have thought about finding a Saarinen tulip base and making a wooden box for the top so you can put the TV on it and a DVD player in the compartment. Other ideas I have considered (if you have ample room) is using a long platform (such as a Nelson bench or Eames elliptical table) so you can position the television among other items of interest (ceramics, plants, books). A simple box with casters can work for tight areas. Of course you could get a carpenter to build a low storage unit with doors to hide the TV if you feel the need. I like things to be casual but well done, so I think a television can be integrated without too much visual intrusion. My main thing is not getting a television that is too big. When it becomes the center and all the furniture is arranged according only to suit the TV it can be a bit tacky.

I actually plan on...
I actually plan on purchasing a TV soon to watch movies. I will get probably get a 20 inch screen. I plan on getting something very plain. The one problem I see is that most TVs come in silver now. I want black. I will be putting it on a shelf that is part of a big danish type wall unit. I think the black would more subtle.

This will date me but...
Every MCM home should have a 50s-60s piece of hi-fi furniture. They can be had in most thrift stores for $10-20. Sometimes they will even give them away if you'll take them. I've always thought it would be fun to rip out the innards and fashion a carriage for your computer that lowers inside the cabinet when not in use, and raises through the turntable hatch when you want to use your computer. Tidy and oh so much better looking than all these ergo computer desks.

Great stuff
I agree about the nastiness of everything pointing at the TV. What about a sideboard? Then the dvd player could be hidden inside the cupboard and things could be arranged around it to distract. Would it be sacreligious to drill a hole in the back to feed the wires through?
Also, what about bathrooms and kitchens?

Blu Dot has just released...
Blu Dot has just released some fairly affordable sideboards that already contain holes for wire management. I don't know if it is n the site yet though. If interested you could call 601.321.1958. That is a store that I know that carries their products.

Thanks
Actually I live in London so that's a bit far even for a design addict!

Painting the walls and...
Painting the walls and tiffany ceiling light color will add height and light to your room.
In a small space, you need to get the most out of every square foot, out of every piece of furniture. Could you arrange the dresser and and small bookcase to where you could put a top between them for a desktop.
Here's the link, so you can choice which the best match of your walls, lights, and furniture:
http://www.fixturesandfurnitures.com/ceiling-lights.html