Ohhhh I love, love LOVE that! Lucky you, having hardwood floors... I miss the hardwoods in my old apartment. It made it a lot easier to sweep up thread clippings.
We painted horizontal stripes in our dining room... almost identical to yours, actually. Same color family, and we also used flat and semi-gloss. Our stripes are horizontal, though. And I agree--for as amazing as they look, stripes are a PAIN to paint!