Painting Wood, Or Restoring?

Hey You guys,

So The junk yard man (my father) ended up purchasesing the bluewater house boat and for the past two weeks, we have been going up to the dock in callao that its located just to work on it.

We have to pull the engines so were getting her towed to our dock. Some of the lights are shot, The radio to play music is shot, The rugs need replaceing, etc. But after three initial straight days of working on her with me and a freind cleaning and my father working on the electronics, She is clean of all trash, mildew, and we got the stove going, some lights to work, the A.c's figured out, etc.

I am in charge of painting, flooring, etc and I am not sure what I am going to do. The wood walls have a water line as well as the cabinents. I have already figured out that the cabinents can be revarnished to the orignal sheen, but the walls more than likely need to just be painted.

So would painting the cabinents to make the boat more modern, and putting in some wood flooring Add to the value of the boat, or demolish the value in the end?

I almost want to do a red and silver "modern" kitchen with painting the cabinents, etc but than every boat out there is wood wood and more wood so there has to be a reason for that.

Thanks