The only thing we agreed ahead of time to buy with our tax refunds (not the rebates - I think we're probably destined to splurge on a Wii with that) was a new couch. Well, we ended up getting a couch and chair. They aren't a matching set but they are very close in color and both micro-fiber (the chair is "duraplush" which I guess is the same).
Here are two pictures of the couch which is super comfy.
... and here is the crazy chair. It's a chaise with big padded arms and headrest and it's actually a recliner too. I bet sleeping in it would be very comfortable.