New Project-Vintage French Bed

I'm so excited over my latest find! ...Well, actually it's my cohort Lori's find. She knew I was looking for a full/double size bed for the room my daughter vacated when she left for college. This was spied by her eagle eyes in one of our favorite vintage furniture stores - and she knew I'd fall in love with it. It's still sitting in the store and I plan to pick it up tomorrow when I get a truck. Lori and I have discussed several possibilities (I'm sure they're limitless!) but we've come to no hard conclusions on what we are going to do. We've discussed fabric colors and types as well as how we are going to treat the wood. I love the idea of painting it because I already have a mix of wood colors in that room.
Hmmm. It's exciting to be working on a project for myself. I'm like the shoemaker whose children have bare feet!
What to do...what to do.
Any suggestions?