Although I would consider only a few pieces of the rusted and crusted furniture in my home, I love the fact that these style of decorating uses old equipments (be it from school, warehouses, office or garage) and given a second life in a residential setting. I love the uniqueness and quirkiness that it brings into a room.
Some flickr photos I found here with "industrial chic" tags.
p.s. I will be updating the shop with some modern and industrial items on Monday.