You know I would like to see you use something like wheat with some yellow brown tones rather than a color with really brown gray or brown pink undertones so that your cherry furniture will be given its due. The terra cotta is going to be beautiful and I have had that before with my cherry tables. I think a color like Behr's Toasted Wheat, BMs Whole Wheat or Ralph Lauren's Parchment will really make your room zing. I think what you are doing sounds gorgeous. Remember to get pictures for the GWebbers to see.

Our furniture is cherry and mahogany; the carpeting is beige. We selected a trio from the same card and used them through much of the public space.

The accent color we used in the adjacent Entry and into the LR is SW Latte and the Living and Dining rooms are SW Kilim Beige. SW Divine White was selected for the second floor hallway so that we have some continuity but as there are no windows a lighter tone was necessary.

I trend toward soft colors because everything goes nicely and our rooms are well illuminated too. Good luck with your selections.

Here is a link that might be useful: Living Room

My living room is BM putnam ivory with a darker accent wall of BM Plymouth brown. We have dark walnut and cherry furniture. Plymouth brown is a deep chocolate so you may want to avoid it if you don't have adequate light. Putnam ivory is a great warm neutral on it's own too.