Wood paneling does date a home and space. The colors range from dark brown to very light beige. The darker woods can also make a room look smaller and unattractive. In older homes, this paneling was nailed to 1.5 x 96 inch fur strips or to 2 x 4s.
If you want to do away with the wood paneling and don't have concerns about insulating the space then you have three options: