Terry,
The structured wiring approach to configuring a house has a lot of fans, including me. I really like the idea of a single patch panel with modular terminations for voice, data and coax. It would look really slick, and be quite functional, as well.
The problem with that slick, uniform patch panel look is twofold for me - time and money. Stripping the sheathing, splitting the wire pairs, cutting each to the correct length, and snapping the wires into the CAT5 RJ45 connector is so tedious a job that I STILL have only terminated the wires that I actually need, even though the construction was over 2.5 years ago! (I did finish all but one wall jack /w3tcompact/icons/blush.gif!) I only have 4 data terminals to go. So maybe my preference is more an indication of my laziness than anything else.
The phone wires, on the other hand, were actually fun to install! And I took some pride in how slick the 110 block looks with the inbound phone lines (2) looping symmetrically down one side and the home runs bundled in an orderly fashion out to the wall plates. I think I have about 11 phone jack locations, and the CAT5 jacks cost me about 4$ each. A second 12-port patch panel to snap them into would have been another $35 (yep, just for a little piece of stamped steel and plastic). Finally, the patch cords themselves are about $5 each (for short ones). I had the 110 punch block laying around, so I saved mucho aggravation and about $135 dinero by avoiding the voice patch panel.
For folks who want a uniform look, and (most importantly, IMHO) don't have to do it themselves, and who can afford it, go with a structured house wiring system, including the panels. It really does look good, and is easy to maintain with a little instruction on what goes where.
BTW, I think you could get those patch cords in Toe-may-toe red/w3tcompact/icons/wink.gif