Depending on how much work I want to do, I could lower the fireplace even more, or delete it entirely.
My first instinct was to preserve it as part of a somewhat cozy area, with some built-ins and overstuffed seating. So far all it's cost me is some mortar, some sore muscles, and a bit too much time.
Maybe I end up just tearing it out so I can drop in an 85" TV and crazy sound system, but it's not a vibe that would please the missus