Great, Sally. Hope we didn't overwhelm you with too much information. Most of us do go for a holistic approach to space since no single element exists in a room by itself; they connect through layout, style, finishes, palettes. Sometimes the "problem child" isn't the actual problem, or the only problem, and getting a bunch of alternative suggestions can be useful. Your room is lovely as is, frankly. If you are getting wood flooring, that will definitely modernize the room without your doing anything else. Feel free to post again with all the details at the outset--i.e. not loving the paint, getting wood floors, etc.--then people won't chime in with too much information. Good luck with your new home. You have beautiful pieces.

re: a futon I think they can be iffy in terms of quality, or design. I've run into ones that aren't comfortable as a sofa (too low; too deep of a seat; something), and ones that are too hard for sleeping on. However, my dad has one that opens to a double bed, and it's actually OK for sleeping, and it's OK for sitting. So I would say don't get one unless you're going to be able to look around and find one that's well designed and comfortable, and spring for it. I know my mom looked long and hard for this one. It has drawers underneath, which is nice for storing the pillows, etc., when it's in bed form (which nowadays is never; we just leave it made up anymore, bcs the socializing is done in the living room, and the futon is in the den). But if he expects to have people sleep over, a futon is useful.

From 108 - 120" is the minimum space it will take. Use painter's tape to tape off the traffic path through the room and you'll have a better idea of what can be done. Take a bed sheet and "fold/tape" it to replicate the amount of floor space the table and chairs require. You can move it to all three positions once the traffic path is defined. That should help you find the best spot for the table and chairs. Once that is determined, we can add other furnishings to the alternative locations.

You gotta draw it on graph paper, and then cut out pieces the size of an apartment couch, etc., and move them around. My first idea is couch facing windows with a cafe table behind the couch, and TV in the corner. You could also try couch floating with it's back to the fridge wall and bedroom hallway, and a TV on the bottom wall with a dropleaf table there too (chairs on left and top sides). It might be more flexible to try arranging 2-3 small armchairs instead of a couch, as easier to allow walkways and still have a conversational arrangement possible...