This is a common theme at the home decorating side of the forum. Ask them. :)

Here is a link that might be useful: http://ths.gardenweb.com/forums/decor/

Oh for sure get rid of the paneling. Because you got some as wainscoting on the bottom yet some on the top against the texture of the brick... it's too much going on. Get someone in to look at that mantel, but a slegehammer would do wonders. Don't know what kind of money you have to do stuff. If not much, paint the brick maybe and change the surround or paint it (they have special paint for that). easy fix to get rid of the brass. Nice beams! This could be a killer room. Built ins would be great if there isn't problems behind the walls. A nice reclaimed wood larger mantle would be nice there too. I would also put better molding around the sliders or paint or something. Brighten that up. This room has loads of potential and paint is a miracle product.