We had a very dark paneled entry way at our old factory, probably done in the 60s or 70s.
Our maint guys primed it with oil based KILZ one coat, and then we topcoated with an off white semi gloss oil based paint. It covered with one coat and is washable.
I thought the Kilz worked great. Had never heard of it. Since have used it on dark woodwork that we wanted to paint white, and one coat of KILZ and one top coat have covered nicely.
Maybe it doesn't always work, but we have had good luck with it.
PS, you have to wash the walls first to get up to 20 years of air-born "****" off of it and to get off any wax etc, before you prime old wood.