Modernist trapped in Georgian Colonial!  

However you like
You should approach it however you like. Lots of people like Modernism, but aren't fortunate enough to live in Neutra or Eichler houses. So we make do.
The nice thing about a new construction home is that you probably don't have over-the-top moulding, wainscoting, or trim. Keeping things simple and clean should mesh well. And, if you want to have fun with it, mix in some traditional pieces as well.

Very kind
and thoughtful response. And helpful! Thanks!

Modernism in a Colonial home
It can work, see link below:
http://www.pointclickhome.com/image/tid/3941?mag=PointClickHome&page=0&p...

Yep
The post above shows exactly what my suggestion was going to be!
White out all the detailing..
it then becomes about light and shade and not different materials.. and a much better backdrop to almost anything

I agree
I find the mouldings in new-construction colonials to be utterly hideous. If I had to choose, I would much prefer the over-the-top detailing and quality workmanship of a classical colonial.
That said, I live in a newer construction myself, and one of the first things I did was paint the stair rail and banister pure white.

White...
the equalizer of all evils! Yes, I'd agree paint all the trimwork white. And if you can remove any extraneous doo-dads on the trim before painting, to simplify the lines, so much the better. (Like maybe the finials on the railing posts?)
Then when you approach the wall colors, try to avoid any situations where you highlight the woodwork. Such as the photo you posted on FLIKR. The white walls really highlight the bland builder's grade trimwork. If you keep the contrast between the woodwork and the wall colors low, the woodwork should fade away some.
I'm lucky to live in a hone with a modernist styling but I've been cursed with huge stretches of the classic metal baseboard heaters. I have one stretch that is nearly 50 ft long! To try to fade them away I've painted them to match the wall color in nearly every room and it has helped to make them less of an eyesore. So I do know that this technique will help you some.
It might also be possible to re-do your fireplace surround to a more modern form, thereby really upping the style factor. In new construction these facades are often easily removed from the wall and replaced. Maybe a nice mosaic tile or a concrete-look box.
Good luck

It just goes to show that
quality modern stuff looks swell in traditional environments.

I can see it now!
Thank you for the images and comments. I plan to neutralize the backdrop, keep trim and walls low contrast (thank you for giving me permission to paint "wood") and choose objects I love (and can't live without, since it is a relatively small space).
And, I shall try to produce an interior, as Robert1960 describes in the "Trends" thread, "totally of the zeitgeist" -- which, perhaps, is the most modern of all?
And first to go? The brass developer-grade hall chandelier. I'm thinking Nelson's cigar suspended fixture. It's the same shape and scale. Or, may go with Artemide's Logico Single Suspension (see link). I like that it has more sparkle for this prominent spot.
Suggestions, oh wise and knowledgeable ones?
http://www.artemidestore.com/?page=shop/flypage&pageTitle=Logico%20singl...

Oh gads, I can see that brass horror now..
those chandeliers are THE most ugly creations on the planet! And if you went anywhere near solid cherry or birdseye mapel or any other type of lovely hardwood with paint I'd be the first to hogtie you down. But contractor's oak is not usually worthy of a paint protection clause.
My two cents about the lighting or any other aspect of your decor. Just remember that one of the foremost precepts of modernism is honesty of materials. So make your choices based on that guding principle and you can't really go wrong.

I I moved into a Victorian house
I'd keep any light fixture that was high-end and beautiful.
That tacky candlabria type would go in the trash in double time. But I probably wouldn't remove the circular detail, tho.

Light reading
I think the Nelson bubble lamps are universally loved among all design aficionados.
You are right on the mark with scale and luminosity especially for a primary entrance. You will pass this piece constantly, so purchase something you Love and each time you see it you will feel good.
While I move or rearrange furniture often, it seems, I rarely change out lighting fixtures. It is not difficult but I just tend to hang them and it does not occur to me to rearrange them; unless, I purchase a piece specifically for a particular spot. I mention this only as a personal observation.
You might consider having a look through 1000 Lights by Fiell and the Sourcebook of Modern Furniture by Habegger if you want some eye candy before making a decision.

nelson lamp choice/shapes
The cigar runs counter to the room go with the largest or med saucer...bold/subtle.All the bubble lamps really produce an ambient glow.The cigar can be difficult to work with in my opinion.

Clean and simple
Keep things clean and simple. Nelsons lamps are good. I advocate Wegner chairs - a nice blend of modern and traditional. I also think Riki proved an Eames lounge chair can fit into a traditional home quite swimmingly.