Thanks for everyone's input. Here's the final result. Very similar to the original in overview, but the details make a huge difference. The biggest changes are that the stove is now over by the wall with a very powerful hood, the dishwasher is to the right of the sink, and we added a cabinet to right of dishwasher/counters to put our dishes. Now the island is completely prep, although still with enough room for a quick snack. We added my grandmother's old table that can fit five in the round. We are really pleased with how it turned out, and my husband has been cooking all sorts of wok inspired meals a la stir fry, curries, and etc.
Best wishes on your remodels!