nben1,
Hi, I would open a 42" to 45" opening on both ends of the wall between living and study. That would leave room for a TV with components in a unit below. A desk would be nice in the back left corner of the study, with art or photo above, a chair in the back right corner and a chaise or small sofa on the wall behind the tv. That would make everything look roomier and make the study more inviting. In the living an L shaped seating would be nice floating with a small console behind. Good luck!