How tall are your ceilings? It's important to have some task lights but you can get away with not having dining and living room chandeliers. If your celling is low or standard then you can just do recessed lights as task lights for a cleaner look.

I have 10 ft ceilings on the main floor. And I'm leaning more towards recessed lights, or one or the other, but I think 3 separate 'hanging' fixtures is overkill.

I think the size of your island is too small to support three pendants. You could possibly do one or two.

dining light fixture optional. I don't really think it will look bad if you had three separate hanging fixtures either, but it is a matter of preference. I personally like when different functional spaces are demarcated by different focal points. Layered lights (recessed + pendants + sconces + ambient wall lights) gives better results IMO but if your space is smaller you can opt to keep it simple.

At 10 feet you will likely need a task light over the island. There are some very minimalist linear suspension LED task lights that might do the trick.