At one point I was also thinking of making a more modular stand, which might work for you if you are hooking it up to a PC that is always going to be out.
I was thinking of two stackable boxes on casters or sliders, that when stacked together would form the stand for the CP, but when unstacked, would have a coushined top to put on them for footrests to be used in the game room. They would also have a solid panel bottom, as we are low on storage as well as space (they usually go hand in hand though right?). Lift up the top, thrown in a blanket, wireless controller, whatever you want to store.
So then, the CP could be in a closet, and when you want to play, you stack up the ottomans and slap on the CP, ready to go.