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Please post a picture of your fireplace. Without seeing its dimensions, and what particular '1970's features' are on the fireplace, it is difficult to offer reasonable suggestions as to how it might be brought into this millennium.
Here is a pic.
Wow, that is a lot of rock. How handy are you? I would be tempted to remove a large section of the rock on both sides and replace it with shelves. If this is not an option, I would put fake cabinet doors over the two large ends of rock. Take it all the way to the ceiling and paint it to match your walls.
Thanks so much!