Wall liner paper - have you ever used it?

My husband and I are re-doing a room in this house we bought (actually all the rooms need cosmetic help). In this room the bottom half of the wall is fake paneling and I was thinking of using a paint-able wall liner instead of removing the paneling.

In addition, I started stripping the wallpaper from the top half of the wall - it is a textured paper and it appears that they did not prime the drywall before wallpapering. I have strips of glued wallpaper backing all over the wall and when I wet it down all I'm getting is a gluey mess that is not very scrape-able. I am wondering if I can use the wall liner paper on this too.

I have never used wall liner before, am a little hesitant about this approach and am interested to hear if anyone here has used it and what the results were.