Reader Design Dilemma-loft by the Bay

Our latest reader design dilemma from Sarah on the Chesapeake Bay. This one is a little different because the space is still under construction, so you'll have to use your imagination!
I have a loft-like space (a large living/bedroom above the garage) near the Chesapeake Bay. The room has high vaulted ceilings (about 10 feet, though of course the peak is higher), lots of windows, and board and batten extending to 7 feet on the walls. The space has windows on all sides, so gets plenty of light. There is a desk/bookcase unit that divides the space into living and sleeping areas. The furnishings are going to be low and modern.
The space, under construction
An example of the board and batten that will appear in the loft space
In terms of color, I was thinking of a soft grey/blue for the 7ft board & batten section of the walls (something along the lines of Boothbay Gray from Benjamin Moore) and a deeper color above that extending up across the ceiling (perhaps Benjamin Moore's Hale Navy). The color would extend throughout the space (only the bathroom will be different). I will also need an accent color for the central bookcase/desk and the trim.

Alternatively, if we decide not to paint the ceiling, perhaps the Hale Navy for the central bookcase/desk. I would love some more color options for the walls, trim, and central architectural component.

Is this a workable scheme? Or would a dark ceiling feel too oppressive? Do you have any color suggestions? -Sarah

Here are my initial thoughts on Sarah's dilemma. Some things to consider:

1.) How are you going to use the space(s)?

In Sarah's case, it's a multi-use space, with one side dedicated to sleeping, and the other for living. So, given that each side of the space has it's own purpose, it makes sense to divide the space with appropriate colors for each end. This will visually set up the two sides, as well as emphasize the desired mood for each space.

2.) What are the architectural needs of the space(s)?
This expansive loft space has a high peaked roof. If she paints the ceiling dark, it will achieve one effect, while if she paints it light, it will present a totally different solution. Does she want to emphasize the ceiling, drawing attention to it's "loftiness" with a light hue, or does she prefer to make the space feel cozy and intimate, and visually erase the ceiling with a dark tone?

*There is no one right answer, as everyone has different design goals.
For example, here's a really bad picture I shot at my favorite little gelato shop in Baltimore (yum!). They have soft custard yellow walls, and jet black ceilings that just simply disappear. It works really well in this scenario.
image source
As for colors, each one will have a different effect, depending upon the particular space. What looks bright and fresh in one space might appear dark and somber in another. If you have enough light in a space, it will be able to hold darker colors like Hale Navy.
image source
For a nautical theme that isn't too cheesy, she could pair blue gray walls with crisp white trim and cheery red accents.
As a rule of thumb, the spaces you see in glossy magazines are generally professionally lit and styled, so don't take the color you see in print to be the same you'll see once it's up on your walls. Always take the chip home, or paint a 2x2' test board first.
image source
Gray is a tricky character, and will shift depending upon the type of light you get, as well as what it's up against. There are cool grays, warm grays, brown grays, blue grays, green grays... the list goes on. So be sure to look at it's undertone to make sure that's the look you are going for.

What else can I offer... I'd like to get everyone else's opinions and design suggestions on this dilemma. What would you suggest?