I found a great article for you on MSN about painting blunders to avoid…
Most importantly, take your time! You need to take the time to go to the store and choose a few different colors, bring them home and see how they look in your room before making a decision. Think about your furniture and what the room will be used for, and remember that certain colors evoke certain moods. Don’t make the mistake of an energizing or wild color in a room that you would like to be calming and soothing!
Ignore trends, and go with something you love. You are the one who has to live with the color, not the decorators on tv! Don’t forget about what a color will look like as you travel through the home. Colors need to look good from room to room, so choose a complimentary palette. If you are sitting in the living room, and it opens to the kitchen, the colors better look good together!
Once you have chosen the right color, it is time to get down to business! Find out what kind of paint is currently on the walls, if it is oil based, you need a special primer. Use a high quality paint brand, and the right tools for the job. What a pain it is to have to stop half way through your project to get more paint or rollers! Be sure you are ready to get the job done before you start. Take the time to be sure the wall is prepped for you. Go ahead and fill any nail holes or imperfections before you start, it will make the finished product look so much better. Plus, it is way easier to just do it now than to patch it later and have to get out all the painting supplies again. Use thin coats, use painter’s tape, and use a plan and your project will be beautiful.
Don’t forget to write down what colors and brands you used so that when someone gives you a compliment you can tell them– or if you need a touch up later, you’ll know which paint to use.