You asked about this specific ceiling. Combined with all that's going on in that room, that ceiling goes too far for me and that's saying a lot. I do love the look of a decorated ceiling and this one could have been spectacular without all of the action going on under it.

Cloudyhaze....I think all of the options look good, but it just depends on the look you personally wish to have for your house, because painting the ceiling white will COMPLETELY change the look. My sister has just bought a place that had brick walls and exposed ceilings that had the beams painted mission brown and the ceiling was in some form of raw chipboard type material. She wanted to brighten the place up before she moved in and got it all painted white. It looks beautiful, but I personally would have thought of other options before painting the brick etc. She got a quote for plastering (sheeting) the sections in between the exposed ceiling beams and it was a lot more expensive than painting. If you are keen to paint just the panelling in the ceiling, then I would get additional quotes. I am no painter but I would suspect if it has shellac on it, it will just need an initial sealer on it, before putting on the 2 coats of flat ceiling paint. I think all of the options will look beautiful, because the high ceilings are the feature.........it just depends on whether you are going for a more rustic look, mid-century look , more modern look...I am not sure of what all the designs are called. Good Luck. Your house is gorgeous. My sister lives on Gold Coast BTW.

To assist with harnessing the sea breeze suggest a beautiful long narrow feature window that follows either side of the pitch of the roof (which will let in a lovely sky view plus breeze), or just have the top triangle as a window. Understand the desire to have the small window there however in a room with big glass/window features, the small window looks like an after thought and is at the wrong scale.

Good morning! I love love love your ceiling! As others have asked - is it something that repeats through the house? I would 100% keep them - the key is to work with them not fight against them. I would also replace the light fitting - look at having recess lights installed. There are a number of things that you can do when you have such a prominent feature such as this in a room - you either choose to work with it and 'calm' it down into the space - such as painting the ceiling and the walls in the same colour - or you say - to hell with it and make it the hero of the room. I have seen some stunning ceilings where the walls have been painted in a 'white' and the ceiling painted in a strong colour such as navy which then ties into accents in the room. It would obviously depend on your personal style. Good luck!