Sounds like what you are looking for is "home decor" with an artistic cycling theme. Stuff to hang on the wall. As others have said, your basic options are posters, photography or real art made from bits of cycling hardware.
Lots and lots of posters. The re-production vintage ones are OK and plenty decorative. Cheap too. You can have Giclee (made up marketing word for really good ink jet print) (sp?) prints done in any size. If you want to spend the $$ search out authentic vintage poster dealers. The original stone lithographs can be truly "awesome" to use a much overused word. Good ones will retain or increase in value over the years and have actual art / collector value. Repros = strictly home decor.
Same goes for photography. The Watson stuff is fine decor, on the lines of mass produced calendar art. One of the absolute best cycling photogs is Caroline Yang who covered the 2004, 05 and 06 Tours. Check it out at
http://www.carolineyang.com/. She is an artist photographer who has had cycling as her theme, as opposed to most others who are "bike guys" who do photography. The Bettini photos on cycling news are a good example, image after image of cyclists throwing their hands up at the finish line, etc etc.... yawn. I assume Yang sells her art, but you'll have to contact her from the web site.
I can't speak for the artists who happen to include cycle parts in their art.
The over-shopped photoshop stuff leaves me cold. After the initial "that's cool" reflex there's nothing left for me.
Support the arts.