Weighing design options

[Ryan Coburn]

I am about to start a rehab in Colorado and have been discussing a design idea with my contractor who lives in the city.  I have a small bedroom (queen size bed at most) with attached bath and am considering to make it into a master suite.  I could add a small walk-in closet or add a larger closet which would require demo of a wood burning fireplace.  

I'm looking for a sanity check on my assumptions:

My belief is that a minimum walk in closet (or any closet) would have space for ~18 linear ft of shelving.  Does that seem about right?  Is that too small for two people?

Does a master suite outweigh a wood-burning fireplace? (my thought is no.)

What would you consider the smallest size for a master suite?

Thanks

Ryan