After much thinking we decided that Riley would be better off having his bedroom in the playroom, as:
a) its a larger room
b) the power point wouldn't be down the side of his bed (I get paranoid about things like that)
c) he never really plays in the play room anyway so it was a bit of a waste
d) its further away from the lounge so we don't have to be as hush, hush when hes in bed
I've converted one of the hall cupboards into a toy cupboard and Riley's old room is now my sewing/craft room and very much still a work in progress.
Now I just need Riley to start Kindy so I have time to use it!