you can do a corner pantry save some money and gain lot more room for storage

Upper cabinets are definitely not obsolete. There are times when removing them can improve the feeling of openness, but you need to be sure to have a place for your stuff. As the previous poster mentioned, there are many ways to improve the functionality and efficiency of cabinetry, so depending on your layout, you may be able to gain some space. I'd suggest working with a professional if possible (designer, cabinet maker, architect...) as they generally have experience here and know what works and doesn't... Good luck.

Thank you.

Upper cabinets over a peninsula might be.

River valley, does your answer mean, it is still being used? My other dilemma is the width of the peninsula. Can it have an overhang to accommodate a stool? Thanks