I would have taken that furnace out the day we moved in, but my kids weren't excited about the prospect of icicles hanging off their noses. And below you can see what it looked like once we removed the furnace and the old paneling. We found that this wall was one of the main culprits of cold air coming into the house, and since we live in northern Pennsylvania, that is a really big deal. So this gave us the opportunity to add insulation - not pretty, but very practical.
Here is the painted fireplace. This was before I sealed the hearth and mantel. You can also see little bits of the paper left from where I used them to protect the wood while I was painting the fireplace. And I am also needing to put in the molding around the base. And I also have one strip of brass left that will be painted black to blend in. Hence the "almost finished" part.