This method worked beautifully, but did give us a bit of a hiccup. Even though the planks were tight, they settled a bit over time leaving a tiny gap between the top board and the crown moulding. We decided to add a trim piece to the top and the bottom of the planking to finish it off so we wouldn't have to worry about gaps.
We did our usual Jeremy builds, I paint strategy. If I need to prime something, I usually just do a thin coat of primer then two top coats. But, because of all the knots in the wood, I was really afraid of bleed through. I did two good coats of Kilz oil based primer to ensure no wood grain or knots would be peeking through. After that, I only had to do one coat of white trim paint. Not bad at all!
We still need to have the electrician out to rewire the TV, but in the meantime, I rolled up the cords for the pictures so you could see it distraction free. ;)
And, just for kicks, a little before and after!
This picture is from Fall 2012:
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