For eight, I would suggest a table no smaller than about 200cm x 100cm and orient it so the long side is parallel to the back wall, with one or two low-hanging chandeliers over it.

I love a square table - particularly in a room like this. I have some friends who painted their walls a deep coral and then used a light wood like yours. It is muted, modern but grandiose at the same time. In the corner they have a cabinet that houses ancient pottery finds...

A 72" round in a pedestal style will do the best in the room to give flexibility. Smaller rounds are different than the bigger rounds, take another look

Wainscotting is a nice feature and would definitely fit with the charming double doors you have with your dining room and the panels aren't too hard to put together. Try something like this one: http://www.homedepot.com/Lumber-Composites-Paneling/h_d1/N-5yc1vZbqp3/R-202090201/h_d2/ProductDisplay?catalogId=10053&langId=-1&storeId=10051#.USu63lemWrk and then you can add some molding to the top for a visual pop.

As for the table, it is hard to find something that will seat 8 people but consider a bench style table. You don't need as many chairs but it would only work for a square or rectangular table.

http://www.wishack.com/product_p/wed-c60m2cno.htm

If you're set on a round table, it has to be at least 60 inches in diameter, anything smaller and you'll be bumping elbows with the best of them.

Round is so much more intimate for table conversation. Plus you don't bump your hips on the corners. It will also soften and de-emphasize the square-ness of your room. Search the box above for round dining table and then for square dining table and see if you don't agree.

You might want to reconsider a round table because they are do great for conversation and engaging everyone.

Seating for 8 on a daily basis, or just occasionally? If it's just occasionally go with a round table that has leaves which will allow you to extend it.

Thanks so much for the responses so far! I will definitely reconsider round. The room will serve as more of a formal dining, not so much day to day use. The house in general is a fairly traditional colonial.

A round table with leaves becomes oval ...or there are some with pie shape leaves. I have seen some lovely formal round tables and they can be dressed up with the chairs you choose.

Also, if you go for a (round) table that extends, if you're only with 4 people you won't feel sort of lost around it.

Did you like the moodboard I made you? Or would you prefer lighter/different colours, different style?
Have to say that I adore that two-toned round table. It's not cheap, but those two colours... love it! Such a shame I don't need a table and I don't live in the USA... sigh... ;-)

Posting, so I can see the progress. Love Carolins suggestions and mood board.

@njmomma: :-)

Carolins- thanks so much for the suggestions. I really appreciate you taking the time. I actually LOVE the two toned round table you suggested. Now, how to convince my husband :) ! He likes more of a "blocky" look. I also really like that sideboard. Chairs...I really like a Small simple look.

Does this pic help https://www.houzz.com/photos/wallingford-farmhouse-farmhouse-dining-room-seattle-phvw-vp~334264
It has some of the elements you are considering .

Phew! Haha... glad that you like it. You know, I really do enjoy going on a virtual shopping trip for people. Sometimes it's difficult to stop 'shopping' and just post the comment and hope that people like it.
I'm almost sorry you like these ideas, because I would love to go 'shopping' for you some more ;-) But wait... you'll need ideas for curtains and accessories and lighting..... LOL

Gosh yeah... that beautiful round table. One can only hope that it's not as gorgeous in real life... But I also really like the rectangular table or something similar for your space/style. Wouldn't go for square myself. Personal thing. Too.... blocky?

A round table with leaves to extend into an oval also allows traffic to flow more easily around it. I have bumped way too many corners - With the door outside - there will be traffic thru the room.

Couldn't help myself, went shopping for inspiration for curtains etc. for you, thought about blinds with a pattern combined with a neutral drape, found this dining room that has the exact opposite. Just wanted to show you:

A square table would be difficult to accommodate 8. Once you line the walls with other furniture - buffet table perhaps or china cabinet, the room will take on a more rectangular feel. Unless you need the french doors closed, we would recommend you open them and then soften the corners with large plants.

Silhouettes would look awesome for the space . You can also have them on the doors with hold down brackets.

http://www.blindsdirectcanada.com/blinds-toronto/hunter-douglas/silhouette-toronto.html