Having worked in a variety of office environments over the last 15 years, my favorite has been shared, closed office space. My employee moved into a relatively small building which had 2-3 person offices in it. The devs were one, QC in another, sales in another. It worked quite well. We could close our door, but still collaborate when we needed to. We also had several meeting rooms if we needed to talk between teams.

I'm also not against the "pod"-style cubes (4 or so people in a large cube), assuming the pods aren't cramped on top of one another.