I can't see the point of 3 separate "living spaces" (including the dining room). I'd knock down the wall between the kitchen and living room and have that as one open and fantastic space. I think you'd do most of your "living" there.
Then you could have a more formal living room on the other side (or a very informal snug type thing as someone else mentioned/playroom for kids). The other room could be your study/library.
I can't see the point of 3 separate "living spaces" (including the dining room). I'd knock down the wall between the kitchen and living room and have that as one open and fantastic space. I think you'd do most of your "living" there.
Then you could have a more formal living room on the other side (or a very informal snug type thing as someone else mentioned/playroom for kids). The other room could be your study/library.