Lovely room. Love the wall colors. For your space the best wall for the tv would be the long wall by the dining room. A floating wall unit would be perfect there. After that it really depends on whether you want a sectional and how much seating you need. A right L-shaped with lounge in front of fireplace would be awesome.

How about something like this on the tv wall?

I would purchase a wide credenza about 18" wider on each side for the TV. You can have two storage cubes for additional seating to place under the credenza. I do not like to place a TV opposite a window due to glare, however most on this site will advise you to. I would buy woven wood blinds for the windows to let some light in with grommet top draperies installed from just above the windows down to the floor.

The panels at the windows with the radiators could be extended out farther than the size of the windows to keep the panels to the sides of the window casings. You will need an area rug. Choose this before buying the drapes & prior to arranging the furniture. It will need to be almost room size to accommodate the amount of furniture & furniture placement in your large lovely room.

I think the placement of the TV at the center of the large window will be almost a given unless you will want to look at bare walls with placing the furniture in front of the windows. I think you can use a sectional in your room, however you will need to use blue painters tape on the floor & take measurements before your purchase. This can be a time consuming process however will be worth it in the end instead of buying one which will not fit into the room.

You will need at least 3 side tables for the room as you will want at least 2 accent chairs as well as the sectional. You can buy the glass & wood or glass & chrome 'C' tables to be moveable for the sectional. You can buy a glass & wood Naguzzi 'look alike' coffee table or a leather ottoman (again to be used for extra seating when needed.) Do a left click on my name to look at my ideabooks & click on accent chairs to find examples for $300.00 or less to buy.

Look at art at Art.com or Great Big Canvas for nice art pieces. Check with west elm, Ikea or Z Gallerie for wall décor. Check with Ikea or Overstock.com for an area rug. You will never go wrong purchasing an Oriental or Persian rug with many colors & small patterns in them for any design style and a timeless, classic look. What do you think? You will probably need to float some if not all seating pieces away from the walls to work the best. Bring in sofa tables, round accent tables & book shelves for going against the walls. Use the blue tape for placement.

This will be a fun journey for you to take within your lovely new home. Don't rush it. The nicest rooms were built over a long period of time.

Thank you sandraclark! I'm going to check out the suggestions you've provided...lots to think about. I like your suggestions re: floating the furniture. I've seen that in other layouts, but our current furniture is too bulky. We'll need to purchase a new sectional - something with clean lines and not a super high back on it (though a sofa table with some plants could help draw the eye away from the back of a couch).

Thanks everyone!