i've been working on early 1900's homes with plaster walls for25 yrs. I'd like to say one thing first. nothing replaces manual labor. Painting over wallpaper is just the biggest mistake any homeowner can do. It's typical and is done with success. But be warned..in the future if you decide to paint again and then again you will eventually degrade the glue underneath the paper and bubbles will form or the paper will start falling off the walls.
The proper way to fix and paint old plaster walls is to strip the old paper by any means you like. They all require hard labor. But hey, it's your house and you have a lifetime to finish it, so do it right. If the walls have not been primed or painted the go get yourself a good quality oil-based primer and seal the plaster.
Now you can go around and fix all the cracks and holes. Cracks should be gouged out and filled with plaster patch. If you like you could actually run some joint tape over the cracks and feather it back to the wall by applying 3 or 4 coats of joint compound.
After all the cracks and holes are filled to your satisfaction then you would sand and prime the patched areas with a Acrylic primer. Then lightly sand the whole wall with a 120 grade sandpaper and then caulk around baseboard, windows and doors.
Now you should re-prime the entire wall with an acrylic primer. Now you are ready for any type of finish paint you like. Jerry ... View related article.