So as most of you know I work at a flooring store, so I finally got the guts to ask my landlords (the sweetest old people you will ever meet) if, instead of paying our rent for the next 2 1/2 months, we could use that money to replace the carpet. They said yes! And so lets do a before and after comparison, shall we...(Bob and Haley you will recognize the photos all too well),
BEFORE LIVING ROOM: Lovely brown sculpted carpet that has been in here for who knows how long. Check.
AFTER LIVING ROOM: New Carpet! It is nylon (better wearing), not too long (to avoid matting), and with a fleck (to hide dirt), also it has a Permasheild for stain resistance. (Can you tell I repeat this to people every day at work?) Yeah, what an improvement, but wait, it gets better...
BEFORE OUR BEDROOM: Blue floral wallpaper. Check
Tan patterned carpet with a duct tape transition into the hall. Check.
AFTER OUR BEDROOM: Same carpet as the living room and new paint! It looks and feels so much better! We don't feel so boxed in and it really lightened it up! (Thanks Amy for helping me choose paint)
BEFORE GUEST BEDROOM:

Whitish-tanish carpet that was not put down with tack strip but nailed to the baseboard. Check
Scary woodland creature animal wallpaper. Check. (Go ahead, enlarge it, I dare you, you will see the woodland creatures I am talking about).
AFTER GUEST BEDROOM: New thick green carpet AND also new paint! Again, it really lightened up the place. Not that the yellow-tan wallpaper
wasn't great, but we do live in a basement, we need all the light colors we can get.

So I have decided it all comes down to this:
New carpet: 2 1/2 months of rent
New paint: another 1/2 month of rent and 3 days of back breaking labor ( have you ever tried to peel wallpaper off the walls that was put up in 19-never? Yeah, its rough.)
Living with carpet adhesive and paint fumes: a few lost brain cells and a few sleepless cold nights sleeping on the living room floor with all the windows wide open.
Not having to look at the woodland creature wallpaper ever again: Priceless