Here's what it looked like the day we did our walk through. The previous owner was pretty packed with heavy furniture, the dark greens walls kind of a sickly color.
First things first, that green had to go. We went with a very light shade of gray blue - it continues the monochromatic shades we have going downstairs - the dark gray blue in the living room and the sky blue in the kitchen. We were aiming for complimentary and monochromatic without being too matchy matchy. This is Behr's Cumberland Fog color matched into Glidden Flat (since I don't like Behr).
Next, we had planned to add Board and Batten to the lower half (that's why we only painted halfway down). But we couldn't find affordable, thin MDF boards to put on the wall. We considered just painting the wall white and adding the boards, but decided it would look funny with textured walls.
Sooooooo.... we're adding joint compound to make the wall smooth (Parker's helping). Add a layer, let it dry, sand it smooth, rinse and repeat. Our house is currently covered in a fine mist of white powder. Awesome. Press on. Next up is primer, paint and the boards. We'll keep you posted.