I haven't had a couch in years, although in the last couple of years, I have been looking at/for futons that also had storage (seems like wasted space). I've even somewhat thought of it as a replacement bed (keep the bedding in the storage). People cannot believe at my age, I can and still do sleep on the floor at times (tile, carpet over concrete or wood), when staying at friends. (stiff is better for my back), but I am not sure I would want to do it regularly (in the cold of winter when heat rises).
My main bed is a platform bed, currently leaning against an old beds headboard (alarm clock there). If the room were larger, it would be in the center, so I could completely walk around it. It has one large drawer underneath and I would rather build one with separate drawers.
Another option I would like, although I would rather not spend the money on the mattress and find out I didn't like it, is to try something like those Japanese futon mattresses on a frame that made several stories on the web a couple years ago. There is a renaisance reinactor that builds some furniture and designed this bed:
http://www.finewoodworking.com/item/...g-bed-in-a-box
I was hoping the futon mattress, could effectively make this a window seat. (dual use) I haven't bought the plans yet (keep debating), but it looks like an interesting project.