Hi, I think generally the placement of your fixtures is as good as you will get in a room of this shape and size. But I also think that it would be nice to 1) if at all possible shield the toilet area or give the commode its own WC (water closet); and 2) enlarge the shower space as I don't believe a 42 x 42 shower will be sufficient for placing two shower heads. It's quite possible you can steal space for your shower from the area now set aside for the floor standing tub. Good luck!

4'x7' is a waste of space when it comes to a closet. It's not big enough for hanging except on one wall and a bit of the small wall. You'll get better storage in less space with a simple reach in closet with organizers. The bath itself also needs to increase in size if you want a soaker tub and a shower. A soaker tub isn't designed to work with a shower. You need a shallower tub with an integral tile flange to work with a tub/shower situation. A deep soaker tub will be a PIA to step into to use as a shower, and you'll have water infiltration issues if you try to use it as a shower as well. Also, most 4 bedroom houses would want to have 3 bathrooms. You may want to rethink your wants and needs and the small size of the space you are working with. One needs to reduce, or the other needs to enlarge. Since you say the budget is small, and this will be an expensive project, I'd suggest reducing some of your wants, and eliminating one of the bedrooms to better utilize the existing space split between the others. A 3/2 is a common configuration, and would give you more space to work with for the design. Remodels like this are costly because of working within the constraints of the old footprint and accessing the major systems. Also, integrating the old and new isn't always successful. It's just easier to do plumbing and electrical and HVAC (all of the expensive stuff) when the walls are completely open and you don't have to fight the old stuff into submission. It's one of the reasons teardowns of older homes in older neighborhoods became popular. It's less money, and you end up with more house that has more modern proportions and amenities.

olychick, thank you for taking a look. :) I'm relieved to hear you think a white shower pan is best. I am heading out now to find porcelain marble look tiles for the shower walls to pick up the gray as you suggested. I want a shiny finish to the walls. Tell me if you think that's a misstep. I am avoiding marble as I have a marble topped vanity now that is pock marked with etchings. As far as seeing myself in the vanity, yes, I think I will be able to do so. I was planning on a black framed mirror spanning the vanity. My current vanity is 32 1/4" high (as will be the new vanity) and when seated on my vanity stool my reflection is seen up to my chest. The only issue currently is that my knees are pressed against drawers. I failed to mention that I was thinking of using absolute black granite for the vanity top for two reasons: one being cost and the other being to avoid etching. Will doing so deviate too much from my inspiration? Lastly, I had the idea of applying pieces of beveled mirror framed by black molding floor to ceiling along the back wall and continuing behind the toilet (similar to this only floor to ceiling with the exception of base molding & crown): [Traditional Bathroom[(https://www.houzz.com/photos/traditional-bathroom-ideas-phbr1-bp~t_712~s_2107) by Northbrook Architects & Building Designers Michael A. Menn Thoughts? Suggestions? Thank you for reading this far. :)

"I'm a little confused about your wife. Are you saying that you would prefer #2 because the shower is larger but your wife would prefer #1 because the open space is to the side?" No worries, at times she confuses me too. ; ) I was going to expand on that but didn't. As a single-issue item, I'd prefer the floor layout of #2 because you get a larger shower and you really don't lose floor functionality elsewhere. As a single issue item, my wife would prefer the tub orientation in #1. Normally we'd balance out using the larger shower once or twice a day versus perhaps only using the tub once a week or so. She'd go for "the greater good" and choose the larger shower of #2 over the tub orientation of #1. HOWEVER...your "small" shower is still pretty darn large. Your floor plan shows the small shower still having roughly 5' of open floor length. Plus a bench on the end. So it'll be plenty spacious and airy. "And yet another issue for #2 (did you mean #1?) and #3 is that if two people are using the tub, if only the far person wants to get out they kind of have to climb over the other person." I did consider ingress/egress regarding someone having to climb over another. But because of the size of your tub, with #1/#3, it'd be pretty easy for the blocker to pull their legs in or rotate 90-degrees. Or just be climbed upon. Even with tub orientations #2 and #4, it's not likely that someone is going to step over their headrest to exit the tub. They'll likely shuffle into the foot space of the other bather and exit there where there is no head rest barrier. So with either orientation, I'd think someone will step over or around someone else. "#1 seems to be the only layout that doesn't have any logistical problems but it makes for a smaller shower." I'm really glad you wrote that. Because on the whole, your smaller shower is still plenty large. At least to me. Even with the bench you're looking at roughly 5' of open floor, which I think is fine. I it was my decision, because the small shower is still pretty large, I'd give my wife the tub orientation that she wants with #1. If you plan on watching the TV on the wall while in the tub, I'd mount it on an articulating bracket that can hinge out from the wall. With #1 you'd have to turn your head about 45-degrees to watch. With #2, if the TV can rotate out 90-degrees from the wall, you could watch the screen straight-on.