A snapshot of my current tradestation. I use MT4 for my trading, and keep two Chrome tabs open.
The top RHS tab is the forexstreet.net chatroom. It's usefulness is debatable, but it's fun to chat with other traders sometimes (just be warned that these are RETAIL traders, so take their insight with a grain of salt).
The bottom RHS tab is from fxstreet.com, and lists the latest news in Twitter-like form. There's usually a news item pinging in every few minutes, and you can filter it by currency pair, news topic (technical, central bank, macro etc). The news tab literally pings with a bell every time some news comes in, which I think is neat. I guess it's good enough for us poor retail traders who can't afford a premium squawk box.
I have a second monitor to browse the net or do any miscellaneous work.