What is the best way to paint panelling? We have the old dark maghogany color panelling on one wall in our living room and we just want to know if for know we can just paint it and if so what kind of paint to use.

I know what you mean, and I definitely painted my old "70's" looking walls. I started with a primer, to prep the panel to take paint and to ensure the paint covers the dark color. Then after 2 coats, I painted with acrylic. It lasted for 4 years, then I moved out. It looked great.

I also recommend pigmented shellac as the primer. Depending on your paneling you may get a lot of the moisture pulled out of the paint resulting in cracking. This happened to us on some old paneling -- we then had to spackle it and install textured wallpaper. The pigmented shellac is rather stinky, but really seals it well. You can paint over it with latex -- you may even be able to have the pigmented shellac tinted to be close to the ultimate color you want to paint it. Should you decide to do the textured wallcovering or a liner paper do a search on paneling in all categories, and you'll see some other suggestions I've made to others.