Today I finally got the back right wall finished, at least to the point where I can move forward with the rest of the walls.
As you can see I added white vinyl panels to the wall paneling to protect the wood from cutting fluid that will be flung its way during machining operations.
The blue cabinet in the bottom center of the pic is the base stand for the milling machine. I placed it there to get a better perspective of the space requirements I was looking at for installing the mill.
As for the white wall covering, I still need to add white plastic caps to cover the screws, mainly for aesthetics but to also protect the exposed screw heads.
Tomorrow I will start work on the wall 90º to the right of this one, which will also entail removing and replacing both a window and pretty much all of the workbench shown in the lower right side of the pic above.