I vote shelves- but another idea is to do black and white photo array. This would be fun and contemporary and adding a conversation piece to the room. Use photos you have or you can find some great ones at Homegoods or Aaron brothers.

I think this is a question of terminology. The vast majority of sheet-stock you see is veneered plywood, or these days, particle board or MDF. Plywood, by it's nature is multiple laminations. What you'll want to determine is the quality of the outermost veneer, and whether it's an acceptable grade to clearcoat, stain, etc. It sounds like you're looking to maintain the grain rather than paint over it... ??? If so, apply a clearcoat first. You should not simply polish raw wood or veneer. You may polish a coated veneer - but it would be coated with a varnish or laquer, etc first. Anything needs to be finished in some manner.

By placing the tv on the longest wall on left and placing the couch parallel facing the tv you may have room on the back of the couch to put a long table or preferably a chest with drawers..this would add always needed extra storage at the handy location at the bottom of the steps..this concept creates little rooms within a room and enhances the spaciousness of the open concept hall

No chipped stone what would be the purpose of that ? Get a nice T.V stand depending on your style ( we have no clue ) then mount the TV at proper viewing height which is the center of the screen at eyellevel when you are seated . I love the Besta system from Ikea but it is very contemporary so when deciding on stand make sur eit is low to allow proper TV placement