People hate flexible working spaces where you don't have your own desk, but they have at least this advantage: you can sit near the customer support people to hear some feedback when you can, and sit somewhere quiet when you need focus.
No giant monitors though? Typically I have the choice of "quiet side room" or "giant monitor at desk".
Well I'm only speaking out of personal experience, when I need focus I just need any old screen with fullscreen Emacs running on it, extra screen space just invites distractions. I'm probably a bit of an outlier there...
Depends how frequently you need documentation, and I do iOS so I'm typically running a large iPhone Simulator instance on screen as well.
I'll take quiet side room every time. I honestly question our need for giant monitors. The likes of Visual Studio is very wasteful of screen real estate.