I usually open my CE's so I can play the game, but I generally keep the rest of the contents in the box it came in, in as mint condition as possible. If there a statue or figurine, then it goes in the display case.
The only CE I have that is still sealed is my US Demon's Souls deluxe edition that I got off eBay a few months ago that cost me a small fortune. I already had the game that was played to death so there was no reason to open it.
I'm very anal about my games, everything has to be perfect.