If we do fake stone reface on the fireplace - I'm wondering if we should go to the ceiling with it. May be a pain due to vaulted ceiling. Google Image Result for http://www.anticoelements.com/images/testimonials_photos/Kus1.jpg
I'd change the mantlepiece style to something more sleek, and change the wood on the sides to something more contemporary - but I love the stone.
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