Do you work mostly with online products or do you have a fully stocked room complete with fax machine, copier, etc.
I use mostly online although I do have a 4 in 1 printer/copier/fax/scanner
If you work with hardware, what items do you have in your office? Which ones do you feel you just couldn't live without?
I have a Dell computer w/built in fax software. The hubby said he'll buy my a laptop for Xmas this year, which is what I REALLY want 
Number one favorite piece of equipment?
Laptop (as soon as I get it!) This will give me the freedom to work where ever I want! 
If you work with software, what items do you have in your computer and which ones do you feel you just couldn't live without?
I use QuickBooks, MS Word, MS Excel for my VA business and Paint.net for my website/pictures
Number one favorite program?
Paint.net - it's the poor man's version of Photoshop!
How is your home office set up for ease of use and comfort? What kind of furniture, setting, plants, decorations, etc. do you surround yourself with?
I have a triangle-shaped desk that sits perfectly in the corner of my downstairs hall. It's peaceful and quiet, with GREAT airflow and light. I like to listen to music (XM Satellite Radio on-line) while I work and have various toys (stuffed cow, pinwheel, hot wheels cars, etc.) scattered around my monitor for fiddling with while I think
Do you ever meet with clients at your home office? If so, how has this impacted your business for the better or worse?
Nope - I always think "virtual" when talking to clients. If I HAVE to meet with someone, I usually meet them for lunch at a local Chinese buffet. It's only $9/person so I can afford to pay and the casual atmosphere makes us all more comfortable
Do you have a sep. phone line for your home office? If so, why do you feel this is important?
I currently use my cell phone as my business line. Whenever Goddess gets up and running, I will add a second line to the house so I can have my fax machine available 24/7 and to keep my personal and business lives separate.
Do you have set office hours? If so, how did you decide what they would be and how do you ensure you and others maintain/respect them?
While I'm working Goddess part-time, my office hours are 6:30am - 8:30am M-F and 8:00am - 12:00pm Saturdays. I simply made it clear that I am "a figment of your imagination" during those hours and won't even respond if spoken to by the hubby. It didn't take long for him to stop trying to talk to me during those hours 
What do you most love about your home office?
Peace, quiet, freedom to stop and walk away from something if it gets too frustrating. No "Lily, help - I can't do ***" while in the middle of a project
What do you like least about it?
I still have to work
If you could suggest to a new VA how he or she might best utilize space at home to create a home office, what would your top three suggested guidelines be?
1) find somewhere away from traffic, preferably where you can shut a door.
2) have a practical desk/filing situation with lots of flat space to work
3) be sure there is lots of light and airflow - dark, stagnant offices stifle creativity 