painting real and fake wood paneling

"Young House Love" put together this great step by step guide to painting wood paneling. I have one wall in the dining area that has that awful fake wood paneling and i was wondering how i could, 1. get rid of it (may be too much work for now). 2. paint over it (i was scared this option might look horrible, but now that i know YHL has been successful, why not try it?