I think it is awesome to give a piece of furniture a new life. It is sometimes a bit daunting to take a paint brush to a piece made from genuine old timber but if you are going to get many more years of life and enjoyment out of it I think it is better than dumping it. I believe it shows your love. jbof4 I started with a heat gun to remove most of the many layers of paint, (some are easier than others to strip this way). Then I used an orbital sander and sanded and sanded and sanded. You might also try liquid paint stripper although I find this very messy. I believe you can also get them professionally stripped. Good luck with the resurrection, go for it what have you got to lose.

based on the drawing, the wall where the bed is. HOWEVER, you mentioned that this drawing is not a true depiction of the furniture you will use and the wallpaper. if that is the case, i think the wall paper can work on either wall, it all depends on how busy this wallpaper is and how "plain" the bed is. if you go with a busy wallpaper behind the bed, you may want to keep your bed and bedding on the minimal side so that there is a good visual balance to the overall composition. if you go with snazzier bedroom furniture, then a busy wallpaper may be a bit much and you may want to put it on the other wall or use a textural option to serve as the bed's background rather then another focal point.

If you think hitting the lamps could be an issue, just move them a bit and add some low accessories (opposite sides to pic below). It's better to have a bit larger lamps and with your ceiling height anything shorter would look skimpy and they don't overwhelm the bedside tables once you balance with something above the bed. Just a thought...if you accessorize your bedding with some soft colors, they will also help to compliment the glass and crystal. You could even change the hardware to a silver.

Thanks very much for all your feedback. Just to answer a few queries - the deck is directly outside the main room so the new doors open out onto it. The doors won't be French - they're just the only doors that the 3D planner I'm using had, they'll actually be large stacking doors. I've had another idea too which would be a lot more expensive but offers a completely different approach. This is quite rushed so doesn't show accurate layout of kitchen or anything like that, basically just provides an idea. Thoughts!?