I love this, it reminds me of a hotel I stayed in while visiting in Paris...and not just because the map on the wall is of Paris. I would definitely do this in a bedroom with lots of natural light or track/spot lighting.
Been seeing this paper used to good effect in some relatively stark modern interiors in European publications. (Birch) Woods Wallpaper from the UK by Cole & Sons. Modern + wallpaper= not mutually exclusive.