Live room good for media room too?

I'm just going to throw this out there, and please excuse me if it's been discussed already. Since I'm already going to treat my live room for good acoustics, it would stand to reason that my live room would actually work quite well for a media room like you see in those big fancy homes. :) I could get a pull down screen that's mounted on the ceiling, mount a projector on the ceiling at the back of the room, and if I had a couple nice leather couches, I could have some pretty kick ass movie watching parties. Has anyone done this? Or do most people keep their studios strictly for recording?

I've been thinking the same thing for a dual purpose room. Just realize that a dedicated home theater would be treated to be deader than a control room or a live room. The idea is that the surround speakers provide the ambience/reverb, so there is more absorbtion in that type of room. Check out avsforum.com, they have a dedicated theater builder forum.