Fabric Panel Fantasy

I've mentioned before that I have a big empty space in my living room and another in my dining area, and need a cheap but stylish way to fill it.  Lately, I've been playing with the idea of framing panels of fabric or wallpaper to get a look like this (courtesy of Maison 21):

So far, my first place candidate is vintage plume fabric from Dwell Studio in jade framed with dark wood trim from the cabinet department of Home Depot (cheap!).

I think it would look amazing.  Until then, I'm saving my pennies!