What kind style do you like? Where do you see yourself going regarding furnishing and decor? What kind of hardwood for the floor? Maybe an inspiration photo of your favorite living room will help us point you in the right direction. The reason I ask is, the knotty pine is very warm and cozy for a traditional/country/cottage style. From what I read the other day, it's making a comeback! Seriously, check it: outhttps://nibsblog.wordpress.com/2007/12/05/stylefile-10-pine-paneling-is-making-a-comeback/

It can be really lovely and looks like you have a more traditional style, the colors complement the warm wood. On the other hand, if you want to move to brighter or more modern look the knotty pine might not work. You might also consider whitewashing if you want a brighter look but want to retain the grain.

I love it just the way it is. Some fireplaces are classic and don't need to be "modernized".

I like it as is too. Very wam and beautiful.

I love wood trim, fixtures and your room. If uncertain, don't do it. Once painted, it would be a major chore to undo.

I like it. Is it cutting edge trendy? Not even close, but I like it. It's homey and comfortable. If it were mine, I wouldn't paint.

If you paint, you're going to have to paint not only the shelves, but the lower half of the walls and the ceiling beams ... and in the process you'd lose so much warmth and character.

If you feel you MUST do something, I'd do the fireplace in a white wash -- a dirty white wash that'd allow a bit of color to show through. You could test this: Tape up some white paper on the fireplace and live with it a while.

I wonder how much of your dissatisfaction has to do with lighting. I see you have several lamps burning. What if you could do something along the lines of in-cabinet lighting -- you know, like they do in kitchens -- in the shelves.

Or what if you bring in color in your furniture? Instead of painting the room itself, bring in a RED sofa ... or paint the (completely removeable) table and TV stand a bright color.

I would paint it both. like the whitewash on brick idea. I do think the wood looks dated, would paint the wainscoting too. You could do one part and see how you like it. Other ideas, replace the light /fan with white to blend into the ceiling not pop out and add Led high hats into the ceiling to brighten the room- although that is a bit of an expense. You could leave the beams wood colored and that would be a nice balance to the white. If you paint the bookcase and wainscot white, maybe a nice BM Guilford Green for the upper wall color, It's a warm color that is still light.. All small pictures should be hung together as a large grouping, not spread out. I think brightening it up would be great for resale value

I like the idea of lightening the brick surface with paint or a wash, too. Right now (at least in photos) it looks like there is a dark hole in your room. I would definitely go lighter on the brick.