I thought the chair had some potential. So I painted it an off-white; and then I let it sit for a LONG time before getting brave enough to tackle the upholstery part. Once I did start the upholstery work, it went faster than I thought it would. It took me about 3 hours to get the old fabric off the chair, and then another 3 hours to add the new fabric. Here's a few shots of the "after". Sorry the pictures have so many shadows in them. I was taking them after dark with the aid of some lamps.
As you can see, I got rid of the buttons and tufting. I thought this fabric had too much pattern for the tufting to look attractive. I also eliminated the separate loose cushion by just making a solid overstuffed seat. The chair is very comfortable.