Ikea's $19.99 Lack coffee table is an iconic site in budget-minded households everywhere. If your Lack is starting to look a bit worn for the lounge room (like the two in my garage), it converts with surprising ease into a drafting table.
Nate details the process at IKEA Hacker, and it involves not much more than sawing off the spare legs (which he converted into pencil holders) and adding a few screws and hinges. For a more technical conversion for the Lack, try turning it into a lounge room PC.
Lack Drafting Table [IKEA Hacker]