Jeff spent a couple of hours trying to strip paint from the picture rail in the entryway and it really wasn't coming off, so we just went ahead and pulled it. It was right up next to the ceiling anyway, so it wasn't going to work to hang pictures. We decided it would be far better to move it down a bit so we could actually use it as a picture rail. (We have loads of art we hope to unpack and hang someday.)
McCoy Millworks carries a picture rail that is nearly identical to the one we removed, so I went this afternoon to get replacement wood. As luck would have it, however, they only had 7-foot lengths and we need 10-foot. So, I decided to wait 2 weeks for their next order to arrive.