A New Chair Project?

I'm going to take a look at this chair today.  It's a craigslist find (a steal at only $25!) and I'm thinking it would be the perfect desk chair in our guest room.  Envision it upholstered in a really fun graphic fabric and the wood painted white (of course).  What do you think?  Not that I really need another chair project... I have two in the basement that need to be redone as well, but I just can't help myself.  I'm addicted to chairs.