This is my Palermo office desk setup (you can find more details about my office setup HERE). A Logitech V200 cordless mouse and M$ Natural Ergonomic Keyboard are tucked away on a sliding keyboard shelf. The monitor is a Samsung 173P mounted to an Ergotron Neo-Flex LCD arm which swings forward approximately 15" when in use and frees up the entire desk area underneath it.
This is actually how my desk looks after clearing all items except for the things I use on a regular basis. There are two shelves in the room which store books, notepads, and other office supplies that are used once in a while.
The photo is for my Declutter The Mess Under Your Desk! blog post.