So there's the large room with the kitchen on one side and the pool table on the other side - which should we do?
A: A little lounge area with like 2 club chairs and a love seat (most expensive)
B: A 'breakfast nook' area with table and 4-6 chairs (next most expensive)
C: Use the high top/bar stools we have now and call it a day. (free)
D: Other (share your idea!)
Here are some things I like when I picture "a little lounge area" or a "breakfast nook."

This is clearly huge- but it would be the two chairs on this side, then a love seat on the other side and a much smaller coffee table - the end!

Again - too big - but this would be the love seat on one side with a small coffee table and two chairs again with a table in between!

This is kinda different - instead of a love seat it would be 2 chairs on one side then two squares on the other. I would NOT do an upholstered coffee table, too (personally). I WOULD do my current coffee table, and get a new one for the den!

The breakfast nook would be 4-6 chairs with a cool table. I would have it running the opposite direction the pool table does so it's not like table/table. It could operate as a 'game table' for weekends and a 'dining table' for eating. There is no bar to eat at so this would be it.

Another similar example of the one above, but with 6 chairs. I LOVE the upholstered look... I would probably do two upholstered arm chairs at the ends, and then all Parsons chairs in the middle.
So if we do A or B (or D!), what would I do with our current high table/bar stools? Put in the front room den? They definitely don't work anywhere upstairs.... hmmm. Maybe it would fit by the pool table in the pool table area? (I doubt it though). I would be COOL to mount shelves on the wall by the table and put the bar stools next to it! Then we could do what Mary said with the table and shave the legs down and use it in the nook with 4 chairs? OR save the table, but just store it upstairs.... so much to think about.
I welcome your ideas!! :)