A piece of molding was added, above, as an important finishing touch in updating the original bathroom. The wainscoting itself was completely reskimmed last year with plaster, correcting a bad 1950s update when aluminum tiles were placed on the wall. The aluminum tiles were scraped off before the reskimming. The wallpaper (circa 1980?) remains for now. I plan to paint the deep window well white.
While I've done much to update this bathroom, my favorite two improvements are the tile floor, replacing a nasty and well worn circa 1970s vinyl floor. Second, and not easily visible here, a new sink that fits well in the space. The previous sink and vanity were dated and too big for the room, sticking out further and making it feel much more crowded.
The new mirror, below, was also a massive improvement.
This curtain in the master bedroom was at least 50 years old:
The new curtains aren't fancy, but they're clean and fresh (the difference in real life is more dramatic):