Have you thought of trying the Klick-Klack style sofas? You can order them from Wal-mart and Sam's Club. Basically, they look like a normal sofa and they feel like a normal sofa, but you can change its position like a futon, using a special klick-klack mechanism. They're much better looking than futons and very comfortable to sleep on. When I stayed over at my sister-in-law's house, my husband and I slept on hers and it was like sleeping on our own bed! The padding is pretty thick and comfy. The best part is that it takes up less room than a traditional pull out sofa bed and it's not as heavy. Just a suggestion! (P.S. - the link is similar to the sofa sleeper I slept on.) Here is a link that might be useful: Wal-mart Baja Sofa Sleeper

Thanks for the vote of confidence on the iron bed. I'm having decorating melt-down after making some expensive decisions via a decorator that just weren't quite what I thought they would be and now I'm stuck with them and sick about it. I was thinking of moving it to the guest room but now I'm thinking I will keep it there and get another iron bed for the guest room. I'd love to get some opinions on how to finish the room - should I do that in a separate post with more pictures of the room or continue here? Maybe I'll do both :-) Thanks everyone please keep the thoughts coming.

1. Good question. Prefer under $400 each, but cannot tell from Web photos whether the quality is great or not. Extensions will have to be pretty long. The furniture is all scaled large. 2. Brushed chrome on contemporary ceiling fan; No other lamps in room yet; brushed chrome in adjacent bathroom 3. Contemporary; likes grays, brick reds, black, pure white, very dark wood

Check Room & Board, which has more modern styles than others. Be sure to click on each sofa option because they are generally available in multiple sizes, including down to twin and double beds. http://www.roomandboard.com/catalog/living/sleeper-sofas Lots of options in leather and fabric. I highly recommend looking specifically at the ones that are made by "American Upholstery/American Leather", because they are as comfortable as a regular bed but also good as a sofa. We have the Berin, and have no problem having friends and family sleep on it (at worst, they describe it as similar to a "firm" mattress). It's in our study, and i often hang out on it as a sofa - and it is very comfortable. American Upholstery is generally considered the gold standard of comfortable sleeper sofas, so their venture with R&B (a modernist store) is probably exactly what you're looking for.