The option to use an item workspace is integrated into the New Item and Edit Item forms for lists where the List Item Workspaces have been enabled. This is very similar to the UI for Meeting Workspaces.

If an item workspace exists for a list item, the Display form indicates the fact and renders a Url to the item workspace. Again, this UI is very similar to Meeting Workspaces.

The list item workspace site can come from any site definition or template currently available to the site collection. The item workspace's title is set to the title of the parent list item, and the workspace is pre-populated with links that go back directly to the parent list, list item, or list item in edit mode.