Here is how I currently do things. My studio is my own little world. I surround myself with all my supplies. My paints are in the little dresser/nightstand on the bottom right of the photo. They aren't organized in any special way, but its an organized chaos and I always know where what I need is. You can't see it in the photo, but on the left of the photo is my shadow box that I use to paint my still lifes from. Also, if you take a right from the chair I have a big dresser with a cupboard in it where I store all my mediums, oils and solvents. It is tight for space, but it works for me
I like to sit when I paint in here so, you can hardly see it, but my pallet is on a table to the right of my chair. I normally always use the same pallet so I never have trouble deciding what colors to use, and I find it helpful to always put all my colors out, even if I'm not going to use them all.