I used a rack back in the day when I was a hardware boxer (with 6 physical machines). I don't know if I would use it for that, though. You could just get one of the many wiring solutions for desks so that the cords are hidden. I use a CableBox in the living room, and it works well. I've been considering a WireMate for the desk, but I haven't really felt the need. For me a rack solution took up additional space, not less, but with less equipment, your milage will probably vary.

As an side, why is all that on your desk? I keep the consoles with the TV in the living room, and have my networking equipment in the hallway closet. (well, I will when I get done running Cat6)