That is a fun piece. I would give it a fresh coat of my favorite color paint and stuff it full of fabric and books and magazines. having the shelves "on point" is a very quilty quality!
I love it! Enjoy.
EDIT: The little cubbies on the edges woud be great to stash rolled up fat quarters or stacks of 5" squares. What fun.
Post again when you have it done your way!
peace