Painting - Painting Luan Paneling

I have a few walls in the basement that look like luan paneling. 4x8 sheets. I want to paint them a light color. What kind of primer and paint are recomended? Any other ideas? There are narrow plastic seam strips that separate the panels. What should be done with these?

We'll start with the strips. If you remove them, you will need to fill the cracks, with either mud or spackle, or ideally, with tape/joint compound. Without tape, they will most likely crack in the near future. I would suggest leaving them on and painting them, whether to match the wall, or to match the trim as an accent, is your call.

To prep the wall for paint, sand it down with a fine grit paper, 120 or higher. Remove the dust and wash the wall with TSP/water mix. Let dry, and prime with a suitable acrylic primer, Zinsser's 123 would work good for this. Then apply 2 coats of finish paint.

Thanks for the advice. I will leave the strips and follow all the other tips.