With so many eves I suggest one color for walls/ceilings and I would keep it light. A great off-white with stained woodwork is B.M. November Rain.

Please post as you go along with your project. I would love to see how this room turns out.

I also suggest one color for walls and ceilings. You can leave the beam as is. The room will feel cozier (not smaller). For paint, a beige or cream. Gray would need a brown undertones. Here is a good article with color suggestions and photos. Paint can be hard, and needs to be seen in your space/light. I always like to get some of the sample boards at SW to paint and see during the day/night. Don't paint directly on walls so you can move around (and color bleeds through). Both BM and SW have "crap paint" (smaller cans, inexpensive paint - you would never use on walls) to buy for exploring.

The color you have is beautiful with your oak trim. White will work in there too, if you are wanting to lighten the room up. There are many colors, that will work with your trim. Please stay away from anything with yellow tones. Yellow tones, do not go with honey oak trim.

Thanks so much to everyone!