Interior refinishing

I have searched this topic and got no results.

I am rebuilding/restoring a Lil Bigfoot 11' trailer. It is very similar to a Boler. The existing wood paneling and cabinet doors are needing help. I could rebuild with real wood or I could paint the existing. Wood would be the traditional choice and painting could give it a more modern feel. I would like to get opinions as to each option as well as why you would choose that option.