speakers for a smaller listening room


I recently moved and managed to get a dedicated listening room (yay!), but its a little on the small side at 12 x11 feet. My current speakers are B&W CDM 9NT's, purchased when they were for a much larger room. Do i stand much chance of getting these to work well in a room this size? I currently have them 3 ft from the back wall, and about 2ft from the side walls, with the chair about 1ft from the back wall. The bass is pretty lumpy, and there's a lot of HF echo/clatter, i have some traps on the way to try and tame things, but are there any fundamental issues that would prevent a floor stander of that size working in such a small room? Any suggestions on position changes?

Thanks
Simon
zak42
Thanks for everyone's suggestions, I got setup with an SPL meter and roomEQWizard, and experimented with speaker placement tonight. Originally i was seeing a 25db swing from peak to trough, pulling the speakers further into the room and fitting the port bungs helped a lot, dropping that 25db swing down to about an 8db swing, but added a new 15db swing at a higher freq. Even so, already sounds so much better than it was. Am going to experiment some more at the weekend, and try the diagonal setup as well.
Atsacoustics makes some very inexpensive acoustic panels. They are easy to hang since they have a wood backing and you can easily screw in brackets for wall mounting wire on the back.
Agree with the ATSacoustics recommendation. Mine came with mounting hardware.
I tried out the 45 degree setup, and it seems pretty promising. Does this change the location of traps or not? would it still be corners + first reflection point + behind chair ?