Thanks for the monitor tips - will hopefully be getting one in the next month or so, so will be sure to check it out.
motske, you're right that flat panels of acoustic foam are best placed at the reflection points for maximum effect at the listening position.
I've made sure that the foam covers those areas - on the wall behind the monitors, and mirror points on the side walls. But because you have primary and secondary reflections, and because it's good to have a large "sweet spot" to listen from, it's usually best to be fairly "vague" with your foam placement, ie. cover more area than you need to around the main reflection points. So it was just easier with the amount of foam I had to do a wide swoop around the back + sides.
I haven't done the ceiling though, as it's quite high, and I don't have a ladder.
But I do have a couple of spare bits of foam left that I can use whenever I decide on the best place to put them. I've considered putting them on the far wall at reflection points, ie. the wall behind the camera when that photo was taken, or on the ceiling.
But regardless of where you put the foam, you should also get the benefit of helping to deaden a live room somewhat (which my room really needs, as it's just walls and a polished wood floor).
And the triangular bits of foam in the wall corners behind the monitors are the bass traps - they're best positioned there, I'm pretty sure of that.
I did a fair bit of reading up on acoustic treatment before I invested some money into it and installed it all, and it definitely sounds better now than it did before. I could use some more bass traps to even out the lower end peaks/dips between 20-300Hz, but overall I'm pretty happy with it.