ok this must be so exciting i love these sort of challenges of courst it all comes doen to personal preference however i really feel that wainscotting and mold crownings always look really smart in a room
here this wainsocting is done a bit more modern with the deep blue
http://www.saintlouispainting.com/images/wainscoting.jpg
and here it is done in a more classical style that i love
http://lh4.ggpht.com/_9-70Ge6Gth8/SZTLKCMTkbI/AAAAAAAANR0/2HVLFxeW_YU/Elite%20beadboard%20wainscott_thumb.jpg
there is all sorts of wainscoting so look around heres a diifferent style
http://z.hubpages.com/u/508599_f520.jpg
Okay moving on you need to pick a new bedspread that you love here are some good websites keep in mind that you want to keep it awhile so pick one you really like that is verasatile
http://www.walmart.com/catalog/catalog.gsp?cat=539103
http://www2.jcpenney.com/jcp/X2.aspx?DeptID=59474&CatID=59474&cmCatLevel=2&cmResetCat=True&CmCatId=&cmAMS_T=G1&cmAMS_C=D8
Next you need some bedside tables these are styles of bed side tables and i am a huge fan of the cynthia bed side table:
http://images.google.ca/imgres?imgurl=http://newerahomefurniture.com/yahoo_site_admin/assets/images/cynthia_bedside_table.308165537_std.jpg&imgrefurl=http://newerahomefurniture.com/end_tables&usg=__BF1Y4mXVHSwkeBaeE_yRioiOuGA=&h=625&w=500&sz=17&hl=en&start=33&um=1&tbnid=j1pOxA41pclrYM:&tbnh=136&tbnw=109&prev=/images%3Fq%3Dbedside%2Btable%26ndsp%3D20%26hl%3Den%26sa%3DN%26start%3D20%26um%3D1
Now things that are left is lighting lighting is so important and can really provide to the room and makes a big impact so pick something you really like which you could find at hardware stores by you
The colour of your bedroom is up to you make sure you like it and don't go do dark because you spend alot of time there and so if it's dark it can effect your mood. Also don't forget to get the storage furninture you like and some pieces of art on the wall I hope this helps and have fun!!!!!!!!!