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Your floorplan looks good. Perhaps use a couch or living room chair to separate the spaces. You could place your tv in the center, too.
It seems like you still have a good deal of floor space and storage.
Post a picture when things are set up. Would like to see it in living color.

Been there, did this: Put sofa back against bed headboard & get a cheap five-foot folding screen (Target, Penney's, Wal-Mart) to put between them. Visual divide. I loved it. Cost about $50 & made me feel like I was living in 2 separate rooms.