Here's the circuit I've come up with, it's got stero sound output, composite video output, a PS/2 connector (for connecting a keyboard), an eeprom for program storage and it's connected to the computer via serial. It's pretty much ended up being like the Propeller demo board actually.
I ordered all the various bits and they arrived a couple of days ago. Being an idiot I ordered a male rather than a female serial connector, so currently I have to use the serial cable I had for use with a picaxe chip which would be fine but it lacks a reset line. So I've had to setup a reset switch that I have to hit at exactly the right time when trying to download a program to the Propeller which is a bit of a pain but it's doable.
Here's a few pictures of what I've currently got setup:
Currently it doesn't do all that much, I've got it to talk to the computer and blink an LED next I've got to solder up a composite video connector and see if I can get something on my TV. It's all a bit of a mess of wires and breadboards atm but it works [grin].