Paint Furniture....or Not?

I spent a couple of hours this weekend painting the frame of an old mirror for my daughter's room. It's something I had been meaning to do for several years. I finally got around to it, partially due to all the inspiration I had been getting reading my favorite blogs. I've painted several pieces of furniture in the past. All of these were pieces that many people would have discarded due to the dated wood stain.

I had for some time wanted to do something about our headboard and footboard in our bedroom. It is dark wood with ornate carvings that I feel is a bit too formal for me now. I love the look of painted ornate wood, but I fear painting something that was so pricey, and that I still like, (but not love anymore.) I'm thinking white. I like the juxtaposition of the casualness of white and the ornateness of the wood.

Olive Rue recently had a post showing some ornately carved painted headboards. I showed my husband, who I thought would argue with me about painting the headboard, but he simply said, "go ahead, that would look great!" So now, the decision is mine. And I need your opinion!

Here is my current headboard. I took all the pillows off so not to distract from the headboard.

With a little photoshop magic, here is what my headboard would be white.

But then the walls would have to be painted. (This color looks so different on my mac than it does on my pc!):

Then I would have to redo my pillows and add pictures:

Or maybe I should paint it black?

I would never do this, but what would it look like in yellow?

Or blue?

Pink?

What do you all think? Should I paint it white? Maybe I'll chicken out and just repaint the walls....