Collapsible furniture

I wonder if any of you have used some inexpensive collapsible furniture to add more storage. I think the perfect layout would be with the sofa version as it provides the most open space. I saw these as possible ideas:

http://www.walmart.com/c/kp/portable-closets

I have a collapsible table from REI I use outside, but prefer to have stuff stowed away. My front bed does collect stuff, but doesn't really matter except for the clutter.