I would paint the fireplace first, that is the cheapest option. If you don't like the result you can always add stone over the brick at a later time. Do a wash or shmear technique, that will help preserve the texture of the brick and the pattern.

It seems that a large tv over the fireplace would be uncomfortable to look at from the sectional. Is there a spot to the right of the window where you could put a console and a large tv? If so, you could just flip the sectional and put the open spot towards the window wall.

The TV's are currently at the same height as the mantle. Are you ok with the viewing angle from the sectional? If so, the it seems like you would be ok with the tv over the FP. Why do you have the two TV's? Will you be satisfied with just one? I agree with the idea of painting the brick first as the easiest option. Perhaps a low chest on either side of the FP with art over both.

Well done, celerygirl!

Thank you Sammy. Granite ledge would be better with mantel may be?

If that is an outside wall I would put two windows in, one on either side.

Is it possible to move the furniture back a little from the fireplace? A colorful rug, like a tribal Oriental and colorful paintings on either side of the fireplace (which I agree should be whitewashed) would make your room look stunning.