I just did a complete reorganization of my own studio space this month, and posted it here on my blog. You can find it in the post right below this one or by clicking on my studio tour on the side bar. I look forward to picking up some more great ideas on this tour but I'm going to have to wait to implement them at least until I've lived with my present arrangement long enough to know what works.
For more inspiration for your creative space, starting on July 15th, you'll want to visit lots of the featured studios at Where Bloggers Create 2011. You don't have to rush. Karen Valentine from My Desert Cottage, the event host, keeps the list posted all year.