I would add more lighting options. Treat it like you'd light a living room, with recessed lighting in the ceiling, sconce lights around the perimeter and decorative lighting to define certain areas, all on dimmers and separate circuits.

recessed lights in the ceiling for a light up the space when needed, ambient lighting for the feel you want to have in the space, and task lighting... future plans in your thoughts so you don't have to redo anything.

NO BARE BULBS hanging ... think about what it will look like in the dark of nicht.

You'll want to include some table lamps, so position your seating where you can add an end table and a lamp without tripping on the cord.