We are currently in the process of decorating our house top to bottom. We started with the childrens rooms (DD5.3, DS3.3), and they both now have ample storage for all of their toys in their own bedrooms so there are no arguements not at all because the constant toy clutter is driving me insane
We allow them to bring one smallish box of toys downstairs in the morning, which is then taken back upstairs at bedtime. Obviously DD is at school most of the day during the week and DS is at nursery during school hours three days a week. They are not 'restricted' on books, we have an entire shelf of their books in easy reach at all times. We are not as strict at the weekends but we are rarely indoors that much those two days anyway.
My DM thinks we are being a bit draconian. We think they are old enough to take responsibility for looking after/putting away/tidying up their toys AND we would like to sort of reclaim our living/dining room.