Pair of matching 22" screens: One directly in front of me; the other just to the right and angled toward me.
Active work goes on the forward screen: Editor, browser, terminal, email, etc. Passive/Reference stuff goes on the right: Skype, browser inspector, virtual machine sessions, database tools, etc.
I also run with a virtual workspace as well. It's not used all that often, however, if I have too many windows open, or need to spend some distraction-free time in a virtual machine; I'll jump over to a second dual-screen workspace.
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