On the wall.

Agree with previous posters, plus you need art on the walls

I like it away from the couch and on the wall.

Definitely put it against the wall

This is the problem with picture frame molding...where do you hang the pictures?

Love it on the wall! Great space!:))

Custom pictures or paintings directly on the wall, premium wallpaper in the panels, plates or silhouettes, etc.

On the wall centered on the panels & art above. Actually based on the height of your room, the sideboard on the wall should be 36" height and at least 84" long. The proportion would be better. You have a unique large scale room. You need to be careful with the furnishings you select. Lamps on the sideboard should also be taller buffet style lamps.

Are you going to do everyhing in black white and grey?

Definitely on the wall, but centered.

Centered with art: