We started with E's room first because it was the "easiest" and the farthest away from the main living quarters. The original room belonged to a boy who beat the crap out of the walls. After we removed the border, I went through and patched dings, knicks and holes with joint compound and sanded it smooth.
Her favorite color is green and her old room was a very pale pink. She wanted green and I went searching for a green color I liked that was minty of limey. I narrowed it down to three colors and let them sit for a day before buying the paint. I couldn't bring myself to paint the entire room green so I decided I wanted a chair rail in her room as well.
The molding in the house is all oak and really nice wood. Rather than rip it all out a spend a fortune replacing it, we decided to keep it and spend a life time painting it! Check out this tip for painting the trim near the carpet. All we did was rip down the exisiting vertical blinds and slide them under the gap between the carpet and trim. Then, I just extended the area with cardboard boxes since we have a million right now.
Here are pictures showing the progress of the room: