Suggestions on the best way to paint dark faux wood paneling?

Do you have a good picture you could post? "Faux wood" paneling can translate to a lot of things.

I agree with Suzanne, but if it's paneling with a dark wood finish, and the paneling itself is in good shape with no buckling, etc., you can float the seams with sheetrock, then skim the entire wall and finish like sheetrock.

Or, I have simply primed and painted over paneling if I didn't mind the channels showing. You need a good stain hiding primer, like Kilz, and I would use the oil-based, in case of nicotine residue. Then apply a good quality paint of your choice.

I'd use a paint that has primer already added to it.

Make sure the paneling is clean and dry. Prime with a good stain blocking primer like Zinsser 123 or BIN. Then paint like painting regular walls. If the paneling has grooves you can fill them with non shrink drywall patching compound. Just put on enough to fill the grooves. Let it dry overnight. Next day use a damp sponge to smooth the patch. Then prime and paint.