Fanny Adam, a student at École nationale supérieure des Arts Décoratifs (EnsAD) in France, recently released a final project she calls "Story" which combines the sofa, workstation and bed in one very functional solution. Sofa beds obviously aren't new, but Story also features a tabletop built into the headboard, which, with the addition of a barstool or two, can be used as either a small dining area or as a workstation. The Formica sofa also features plenty of storage space, with drawers located underneath the sitting/sleeping area. When Story is laid out as a sofa these drawers pull out forward, and when it's laid out as a bed these drawers pull out from the side. Thanks to an ingenious design the armrests of the sofa become the headboard of the bed.
At this time, the Story is just a one-off student project and there are no plans to manufacture or sell it. But I imagine this idea could take off. While it may not individually be the greatest sofa, bed, or workstation -- it could be the greatest combination of all three. When I was living in a small space I would have loved to have had something like this.