When (if) I ever get the chance to do my display room back in Oz I am leaning towards glass and under-shelf diffused lighting. There are some amazing examples of that here in HK which make the figures and boxes - beit Gundam, Transformers, breasty anime, die cast cars - they all look stunning as long as the shelf isn't too dusty or cluttered.. but even the cluttered shelves draw you in.
As always though it is the $$ that is going to restrict how awesome any display can be.