I am not sure there's anything that a toddler loves more than freedom to move, but I do think that socializing would be a close second. While I can't always let my little kids have free reign in the house, I do make every effort to provide a safe play spot where they can both enjoy a little freedom and be in the midst of things.
An exersaucer, for instance, lets a baby who is not yet steady on his feet hang out with older siblings (although, he might also find himself being used as a doll, as my son did in the picture above). Play yards and enclosed areas are also a great way, I've found, to allow a child some time to develop independence, because you can give him some space and let him explore toys, books, and that tissue box you acccidently left nearby without anyone showing him what it's "supposed" to do.
And, yes, I admit that creating a safe play space (or preferably several that you can rotate a toddler through) can offer momma a bit of breathing room. In fact, with the right mix of toys, music, and plenty of long breaks to play with you and others, you might be able to retire the Wiggles Dance Party DVD as your I-need-to-get-dinner-ready distraction.
image © Maureen Ryan