HELP! OPEN MODERN GREAT ROOM, LIVING AREA WITH HIGH CEILINGS

This is our new place and it is begging for some personalization - we need advise. The trim is real oak and the floors are bamboo. I don't plan to change the floors at all. The fireplace is granite as is the foyer. The oak is natural and I was wondering if we should paint it, perhaps put in a different banister and then have the living area painted in taupe with white trim - along with a really nice staircase banister. The top banister is bordering a loft area - what should we put up there? What kind of furniture would you use to furnish this space? Specifics - please. The leather couch, chair, ottoman and table were just purchased but we have another family room downstairs that we could use it in - what type of furniture and how do you break up this space? We need advise! Pictures would be great!