it doesnt need to be either/or. it can be a library with a gateleg table against the wall, easily pulled out to dine at with friends. so dont do something silly like getting rid of the light fixture.

a link for photos of combined library/dining room https://www.google.com/search?q=library/dining+room&source=lnms&tbm=isch&sa=X&ved=0ahUKEwi827jerYHUAhXF1CYKHSm_DBEQ_AUICigB&biw=1366&bih=648

Ninigret hit the nail on the head. Install a wall of bookshelves (I'd allow for storage cabinets along the bottom), keep a chandelier, add a small round dining height table and some comfy chairs.

Can you post a photo of the updated flooring? The dining table is gone as well, correct.

how big is the room? I'd paint it a medium brown were I you, because I love darkish libraries, with a lot of wood. That's definitely not everyone's look though, so what do you think? Then shelving, one or two larger, more decorative shelves perhaps, for books or ornaments you like displayed, the rest uniform in size. Two comfortable armchairs on a good rug, a coffee station, lamps and wall sconces, framed art