frame collage. This is actually very, very similar to the one Joey & I created: round mirror surrounded by square frames. I was thinking of "beefing" it up a bit and adding more frames, though, and this is a great template.
Yes to mirrored walls - no to wood-backed elaborated stairs against an already fussed flooring. Keep stairs and flooring simple - for talking piece add wonderful rich carpet or even rug. Mirrored furniture and silve framed pics on teh wall would have been a wonderful bonus. Still love that I have the wall to work around.