I think much depends on the style of your room. If it leans toward modern, solar shades that are semi-sheer are a good option. But if you prefer the look of blinds, Hunter Douglas's Silhouette shades give you the best of both worlds--sun screening and privacy when you need it.

If you are only talking about daytime privacy then solar shades will work for you. You will be able to look out during the day and no one can look in. However, at night it is the opposite. You can’t look out but anyone outside can look in. That’s the only product I know of that will allow you to look out during the day and keep your privacy without raising a shade or tilting a blind.