Well, today was quite the experience. I had my first go at reupholstering and was surprised by how easy it was. A while ago my friend Lindsay encouraged me to try it out on the chest in our bedroom. I waited around on it for a long time. Finally, I mustered up the courage and I am super glad I did so.
I do have to admit that I ended up not using any of the fabrics I had in mind. (Sorry!) I really appreciated your advice, but none of the ones I picked out were in store. Fortunately I found another great fabric for a very cheap price.
So here's what I did. (FYI: There may be a better system to the madness, but this is what worked for me).