Depends on the size of the room. Ideally, like others have said, if you have enough room ( this is the crucial aspect) then having the rack out of the plane of the speakers and at the side is best. OTOH, IF your room is too small, like mine, then the option is not really there. As such, placing the speakers farther forward of the rack is the answer. I don't have much, if any impact from the rack in the set up...imaging is still great, although naturally limited by the size of the room dimensions. (somewhat).
Equipment Rack Between Speakers...Good or Bad
This question came up in another current thread and I thought it would be more appropriate to start a new thread to address it. My rack is between my speakers. In the past I have tried it off to the side and didn't notice any sonic advantage. I have seen in in the past that there are some strong feelings on this subject, and I am interested in hearing what everyone has to say.