I spent my last couple of days in Vallejo doing this, among other things. I wish I would have done this so much earlier! I think we bough the paint for it a year ago... I am so in love with this bathroom now; it makes me want to move back =).
Before: '80's peach. It almost came back in style, but not quite.
After: Cool grey. We used the same Behr Silver Drop that we used in the bedroom, but asked them to make it 50% darker than the original, so it is just a little bit more noticeably grey.
What a difference some paint makes! The only really annoying part of this job was that a little bit of the silicone caulking I did last year stayed on the wall around the shower (way to go, Meg), so of course the paint wouldn't stick and kept beading up. Finally I got desperate, and stood there and smeared the paint back and forth with my finger until it started getting tacky and dry, and what do you know? It mostly covered up the silicone. It was a small miracle, because I didn't have time to go hunt down some other product to remove or cover up the silicone.