Do You See What I See? (moving to the bedroom)

Here is another area of the house that I'm working on. I came across some amazing buys today while at Pottery Barn. You just have to love their clearance sections. We had put up the wallpaper on the one wall (you can see it behind the large wooden leaf) and I'm really not feeling it so I'm thinking about putting up pine boards horizontally on the wall behind the bed and distressing them and either going with a stain or a cream / white washed look. I'd love to hear what ideas you all can come up with for me. I really would like to get some decorating projects finished in this house we so affectionately refer to as "the ugly house". I can't wait to read what ideas you all have.