don't get discourage by some of these posts. if you really want to get one, i say go for it. if you are exerienced and know how to maintain good water parameters, they are not much more difficult to keep than fish. i personally have had a dwarf octopus in a 29 gal for about a 2 months now. i'm no expert, but i can tell you what my experience has been on the topics brought up by some of the others:
1) definitately escape artists, make sure your tank is sealed. i've had no escapes so far.
2) feeding - my dwarf is not a messy eater, i feed it mostly blue leg hermits and ghost shrimp, and all that's left of them are the hermit shells. i usually just put a few in at a time, and they slowly "disappear" over the next few days. i suppose the larger species may leave a mess. i've also gotten it to take pieces of krill off a stick. although it will try to eat anything smaller than it, it doesn't bother my bicolor angel which is much larger, the octopus i have has a head that is a little smaller than a golf ball.
3) nocturnal behavior - this may be the biggest draw back to owning an octopus. if you have enough live rock and hiding places, you may never see it during the day or when there is light going into the aquarium. i work a lot of evening shifts, so i usually see mine when i get home around midnight. when they are out, they are very fun to watch, especially to when they hunt.
4) inking - this definitately is a potential problem, but i think very easily prevented. from my experience as a diver, this seems to be a last resort tactic, and is only used when really threatened. having said that, make sure that it has a lot of places to hide completely, do not harass it and also make sure that there are no natural predators for tankmates like eels, large wrasses or triggerfish. you can also reduce the pollution potential of an inking by getting a smaller specimen since the amount of ink they can release is related to their size. my octopus released ink when i first placed him in the tank, but it was literally only a drop and completely dissipated in a few seconds.
5) hiding places - i think you have to have enough lr and hiding places so that the octopus can completely disappear from sight. i think it is cruel to deprive it of this merely so that you can see it all the time, since their natural defense is to hide.
i'm sure someone will argue against me, but that's just my $.02. i rarely post anything, but i see a lot of discouraging things about octopi posted, and i would hate for anyone to decide against getting one because they think they are extremely difficult to keep.