I think what you said, a freestanding stove sitting on the hearth with the vaulted ceilings, and view is going to work best.
To do it properly, you should seal off the fireplace opening with a surround. Take a look at some photo's of a hearth mount stove (broken link removed to http://www.hearthstonestoves.com/wood_stoves/homestead/photos.shtml) in particular notice how they closed off the opening of the fireplace? I show you this one, because it's designed to fit on a hearth and in the photo's show people who've closed off their fireplace openings. The bottom is the picture I like, that's the stoves optional kit to cover your opening. This stove is extra narrow to fit on hearths, and wide and tall intead. I can't recall if it's big enough though for your house, but I recommend something to close it off. I prefer closing the opening with a metal one as it can be removed later.
For some tips for considering the layout of your room, stoves produce radiant heat that comes off from the sides and based on how big the side is. Approach a big side, you'll feel more than approaching a smaller side of the stove. What I mean by nearly straight out, if you approach a stove directly from any side, you'll feel the radiant heat get warmer & warmer. However, you approach a stove diagonally and you will feel practically no radiant heat as you walk up to it and can stand diagonally to it no problem. Doing so directly against a side while the stove is roaring, is a different story. That should help you with furniture arrangements and explain some things like the seat directly in front is always going to be a hot seat, those diagonal to the stove will have very little radiant heat , and if you have seats on the sides of the stove, if those sides are big they to will be hot seats as well. If you want equal amounts of radiant heat all around the stove, you need a round stove. Steel puts out more radiant heat than cast iron, cast iron more than soapstone. If you're afraid of roasting yourself out of the room, you're probably better with a soapstone stove, the problem with soapstone is they work differently than steel or cast iron one's and you'd need to understand the difference and how they heat and operate.
Registers, wait until you see how it goes before putting them in. I'm of the reverse school, that is instead of thinking how can you move the heat out to other rooms, instead think of how you can move the cold from outer rooms in. Instead of having a register at the top of the vaulted ceiling that's ducting hot air into other rooms, have one that's in the floor that blows the cold air from other rooms towards the stove. The heated air will come out of the vaulted ceilings to replace it. It has a couple benefits. First, using registers to move heated air through an attic, you have a tremendous heat difference and higher heat loss in there, the worse thing being any heat lost into your attic, is lost. Ducting cold air doesn't have as high a temperature difference so less heat loss, and any heat lost into your basement is going to rise and help heat the floor above (or help heat your basement) so it's recycled somewhat. Secondly, ducting the heat out means cold air will be moving across your floors towards your stove to replace it making the floors cold and a bit drafty. But, using registers to move the cold air towards your stove means the cold air is going to travel through the register and not so much across your floors and make them feel more comfortable. Of course depends if you have a basement and your layout (how many floors). The first year, do nothing and see how it goes and study what's happening. If it works, don't fix it.
Good luck!