I'd go for a gypsy/boho look. You can always paint the paneling:
http://www.pinterest.com/search/pins/?q=...
Use designer furniture and linens in order to decorate your place. For bedroom you should go for contemporary designed furniture pieces that will definitely suit your bedroom.
okay so this room has beautiful wooden panelling but i have no clue what to do with it. this is going to be my future room (picture from zillow) so i wanna make it fit my personality. at first i wanted to do a paris theme with the ceiling being the night sky and the walls being a paris landscape with the eiffel tower. now, i am clueless because of the wooden panelling. all i could really think is a california boardwalk or something like that. so, what i want from you is a descriptive idea of what my room should be like, including every single detail you can think of. remember the sky is the limit and be as creative as possible.