ok, i think you can do banquette in the corner, 2 on the outside 1 on each end, 2 on the inner banquette for when you have company. I would put the tv on the back wall, have the couch face it and 2 chairs either one on each side or 2 on one side that swivel. remember to measure and tape out before you buy.

If you're willing to change the furniture, something lighter like some of the examples above would look so nice. Frankly I prefer the softer rolled arms because they're so comfortable and allow you to lounge around in several different positions, put your legs up on them, etc. Comfort first, I always say.

1) wall may be structural 2) you may have to replace all the flooring if you remove it, unless you have more on hand 3) I'm confused, because it looks like the dining room is already in the main space, up by the kitchen/window where there's a chandelier hanging down. then I see two ceiling fans worth of LR space. the more enclosed room to the left looks like an additional/separate room, maybe intended as an office, or as a more enclosed space (family room) for TV watching. if you open it up, you need to think hard about where you are going to put the TV with furniture facing it, and how you will subdivide the rest of the space. If you can draw a sketch of the floorplan, with measurements, including things like whether there's a closet near the front door, we might be able to rough in some different arrangements to help you visualize what you might be able to do with the spaces. It's a bit too hard in the abstract to tell whether this is all one big seating space, or whether it's big enough for an entry zone or game table and a separate conversation area, and what would happen if you added in yet more LR space...

Not a pro, but I would ask if there is any way to place the TV on the small entry wall? I think with it there you could then rearrange the furniture to still be able to view it well but then it would also eliminate it from being the focal point once you walk in and then you could actually boast the decor upon entry instead of it being seemingly immediately closed off.