There are various wire channeling products available at Home Depot or Lowes. They range from stick on the wall channels to baseboards with a channel built in. Search at either site for "Raceway Systems" or "Wiremold".
Just to endorse what Jeff says - we have this arrangement and you simply don't notice it. The only problem I can see is if your skirting board (apologies, my American chums, I of course mean baseboard) is an odd color that doesn't match any of the channels you can find, but this is unlikely.
Yep, and we eat faggots as well. Or we burn faggots. It depends which part of the UK you're from. But that is categorically not the same as being a fag at school.
Even that shouldn't be too much of a problem as many of the wire-channels I've seen can be painted. I basically have one 10 foot run, a corner joint and another 3 feet and that's all I need for an "invisible" setup. (My entertainment center takes up most of one wall and hides all the wires for the front three speakers and the sub. An end table is next to it, and the sub is actually in the open space under it. The wires for my two rear speakers run through the channel, and turn that corner on the wall behind the couch. The rear speakers sit on low stands on tables on either side of said couch, so the wires emerge just behind it with one pair running to the left rear and the other pair continuing behind the couch to the right rear speaker.)