Telecommuting can be a good thing, but why should you be the only one to do it? Perhaps you could approach your company about developing a comprehensive telecommuting policy. Down in many of the States, it's encouraged to combat traffic. There are even incentives (but not too many incentives for biking, unfortunately).

Or, you could become a consultant and work from home every day. Of course, you'd have to go out and get work, maybe from your former employer. It could work in your favor if you do it right.