I know what you mean about the cable nest behind the rack. In fact the only advantage I see to having things the way they are now is that I only have one cable going to my TV.... svideo. However I'll be moving everything in the spring. My current family room is going to become office space for my wife and I and the AV equipment is going up into the living room. It is also quite likely that I'll be building the AV rack into a half-wall I'll be building. It's not even designed yet, but one thing I know it will have is SOME kind of provision for cable management. And while it may be built to take the Mitsubishi... it has to be easily converted to whatever new TV we get (whenever that happens.)
I'm used to dealing with network cables and server racks. You'd think my own stuff would be neater!