Yes you can, it goes on very smoothly.
Faced with this, I had to paint it, first a white primer then the paint you want If your panelling is stained rather than painted, I advise that ordinary household bleach will do the trick as well: Be sure to properly ventilate your area, and HAVE A FAN READY!
You don't have to wait at all, but the paint should be completely dry. You don't want fibers getting stuck in the paint, particularly if it is a contrasting color. I would also be concerned about possible damage to the paint surface. The back of a new carpet is some nasty rough stuff that will strip off paint and skin faster than a grinder!
It looks good
High quality oakwood panelling of walls.
Yes, but if the panelling has grooves in it you will have to mud these in and sand repeatedly or they will show thru the wallpaper. Also you want to ensure the panelling is very clean or the wallpaper won't stick well. Finally you may want to consider using liner paper in between the panelling and wallpaper
oak panelling
A wainscot is an area of wooden panelling on the lower part of a room's walls.
HGTV has articles dedicated to how to properly paint panelling. Here is an example of an article: http://www.hgtv.com/decorating/tips-for-painting-paneling/index.html. It stresses the importance of making sure the panels are completely clean before painting.
PL300 is recommended and very good for panelling and styrofoam .
They had no sheet panelling . Walls were plastered.
Depending on the company, some were wood panelling and some were fibre-board.
there are several sites where you can get detailed information about wainscoting just google it and u'll find some of them --------------------------------------------------------