Patching and Plastering - Wall - Fixes?

Okay I admit I'm a newbie so I need lots of advice:

I have a "new" home built in 1933. Love the house, I mean love it! but I have some issues in the Living room which I need to fix. The walls have 3 or 4 random wall cracks which is not unexpected in a town with a noisy rail line. The cracks while anticipated with the age of the house has caused a dilemna. The walls seem to have a bubbled or textured surface. I know how to correct the cracks, but then the smooth crack fix will not blend in to the rest of the room. If this was a family room, I wouldn't worry about it, but being that it is the Living room, I need to have the room look correct (a job worth doing is worth doing right). Anyway I guess my question is what do you guys/gals suggest? I have thought of sanding the surface of the entire wall, but that will be a task in a 24x12 room even with a power sander. Is there a way to duplicate the surface texture? I am not opposed to almost any options. I just want the room to be done correctly.

Of course there is. you need to describe it very specifically or a picture would be perfect.

I will get a digital picture and post it on here so you can see what I am talking about. I am about 1 week from my estimated start for this, so I will try to get the picture this evening.

I have been reading your problem and I have the same situation. I thought I would wait to see the texture pattern you have and what our expert's response is. Are you planning on sending that shot soon?