NYT: They're Working on Their Own, Just Side by Side
nytimes.com
nytimes.com
So I'll probably just go with the age old, convert a bedroom into an in-house office and do my socialising after hours.
The weird thing about co-working is that it's like study hall - because other people are working - you feel the pressure to work as well - to not slack - or maybe not study hall but cram session before finals in a college library. So even though the music may be playing loud in the background, there isn't really a lot of networking going on - everyone's busy with their own gig. So you might actually get more interaction in an office setting - in my experience there's not a lot of small talk. Just queries like 'Dave - can you help me debug this [XHTML layout]?'
As a corporate worker bee programmer, I admire yet just got sorta jealous at the co-workers there who make a good living designing Wordpress/XHTML/Drupal (e.g. non-nitty gritty technical) sites for businesses.
Co-working is a powerful idea (like unionizing indie developers). I think it depends on the work style/personality of the individual. E.g. if you twitter multiple times daily, you're probably a good candidate.