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.

We have been renovating an 80's home with a vaulted roof in the living/kitchen/dining area, something like your picture. We needed to make the space look bigger so we opted to hang our tv from the roof using an Adtec tv bracket in white, pretty nifty unit, all wiring, aerials etc go up the mounting pole and through the roof. The unit also swivels 360 degrees which is great for any view point in the room, including our outside area. We had a tv unit custom built by Jarramar Furniture which is like a rather large floating cupboard. The unit has 2 draws and one cupboard. All the cords etc come down the wall in the adjoining room behind the door, neatly packed into duct and back into the back of the floating cupboard. It's very neat and tidy, keeps everything off the ground and makes your space look bigger. Both Adtec and Jarramar have websites where you can check out their stuff. You just need to ensure your tv weights are ok for the Adtec unit your wish to purchase. Good luck with your design.

The all black kitchen looks scary as. Maybe because there's no lightness in there at all.