I'm keen on a flush-as-possible or practical mount for the same reasons. We live in a house built in 1931 with a very small entry way that is off to one side of a ~ 15' x 13' living room. The side of the TV will be visible along that wall as you move into the room proper, as well as being visible when entering the room from the opposite end of the long direction from the kitchen. In short, all our foot traffic to the outside door will pass in front of the TV. We have a lowish not too deep runner table that will go underneath to avoid human-TV clashes.
Our other AV equipment is (will be) located on the opposite side of the room; there is a small alcove to the right of our fireplace where a 36" wide cabinet used to sit; I'm rebuilding that as a floor to ceiling cabinet repurposing the antique glass doors that were on the bottom of the original. AV equipment will go on shelves, including, hopefully, our HD cable box or whatever other source(s) we have for HD in the future. I can't really predict where we'll go with HD - this is our first HD TV.
In terms of other gear going in the cabinet across the room, we have an Onkyo AV receiver and ideally hope to switch everything through it. I bought a good quality HDMI cable which seems to test ok with our current equipment. The fall back is our HD cable box and possibly a blu ray player would be located near the TV in the furniture under it - in that case the digital audio cable is likely to be then used to bring audio back to our AV receiver.
I've also put in a race way from my recessed box that will sit behind the TV down to another box mounted a standard 12" off floor such that we can pass cables behind the wall if that ever becomes necessary. Gutting an old house has its advantages.
The digital optical connection is a fall back too; it may never get used if our long HDMI cable proves up to the job as I expect it to; I just wanted to have it buried in the all and ceiling over to the AV equipment shelf.
Speaker and subwoofer cables are also all run through walls and ceiling - finished that off last night.
My inclination is to go with a relatively flush mount and monitor the situation. I can always change out the mount if heat build up behind seems excessive. I'm also not opposed to planting a large diameter PC case fan back there - they can be virtually silent - but might be more willing to move the TV out a little more than going there. Hmnnn.. maybe I should run some low voltage cable from my bell transformer there just in case. ;-) Nah.