Interesting idea for kitchen and dining room. Island with a bench seat attached for the table. Might have to do something similar in my new place to save room for chairs. Under the bench seat could be storage for rarely used items.
I would want a larger TV but thats basically what I want my living room to be like. One big sofa bed thing to make everyone comfy and laid back! to go cheaper you could use mattress and make or use bed pillows covered with same fabric as mattress.