The Outlet Wall is a great idea. It actually looks good and is totally an exercise in function meeting fashion. If I ever get around to remodeling my place I do believe one wall will feature this setup.
It's just what it appears to be: an entire wall made of active power outlets. Imagine: no more power strips, tangled cables, or trying to make brick adapters fit where they don't want to.
Even if you don't wire all the outlets up, they still look cool. It's almost some sort of post-tech artistic statement.
Photographer David Friedman came up with this concept and posted it on his site, Ironic Sans, where he often details design and gadget ideas. Sadly, the wall does appear to be just a concept for now, but David, if you're reading this, I'd like to give you an Internet high-five.