Is it even possible to set up a system in 12x12 room?


I am moving next week and there is an extra room that is 12x12 with 9 foot ceiling. This will not be my main system but I have an extra gear I would like to use. I have never set up a system in a square room and definitely not this small of a room. I have a couple pair of 8 ohm 87 db monitors that go down around 40 to 50hz and a pair of 6 ohm 87db floorstanders that go to 27hz with ports in the front. I have a el84 tube amp that is 25 watts and a 150 watt solid state amp with a tube Preamp. The couch will have to go directly on back wall and may be able to pull speakers 2 to 3 feet off front wall and maybe a foot or so off side walls. Is there anyway to make this enjoyable to listen too? I know I'm going to have to treat room but where would panels perform best or am I wasting my time?
paulcreed
Brother in law gets fantastic sound in a similar but not square room with Vandersteen 1ci , MoFi Ultradeck and a VTL integrated.... yes it is very possible
My system sits in a 10 x11 room. Look at my system thread. With the judicious application of room treatments and careful speaker placement...and naturally a near field listening position, I believe a great SQ can be had. I am VERY happy with my SQ. 
I'm in a 9x9 room. A pair of Paradigm Studio 60 v.3 speakers, SA 8260 SACD player, and a temporary Cambridge Audio 100 wpc receiver. Wouldn't trade anything but the Cambridge (as soon as my integrated gets repaired) and I'm content with the SQ. 
  I wouldn't worry about what it MIGHT sound like, set it up, adjust the speaker placement and enjoy. You may be surprised.
Primacoustic panels at all first reflection points (all four walls plus ceiling). Alternately, setup on a 45* axis. 
Obviously, this mandates a dedicated room to try the "45".
My dedicated room is also almost square, almost 14x14.
Sounds wonderful (only after the treatments placed).

Tom
From everything I've read, square rooms are very challenging,but doable. You'll need to treat your room. Take the advice of the above posters.