B&W 702s or Revel F208s

Just to clarify, I'm assuming you mean the edge of the speaker being about ten inches from the side wall, which is generally too close to a side wall to prevent first reflections from the wall from image smearing.

What happens in this case is that the first sound you hear is the direct radiation from the speaker as it has the shortest distance to you in travel. Then sounds that are reflected from nearby walls, such as side walls and the walls behind you seated position. Our brain can differentiate from the direct radiation and reflected if the time between when they reach your listening point is far enough apart. This takes lengthening the overall distance the reflected sounds must travel until it reaches your listening spot. In general, you need at least about 5ft of extra travel distance to make this work. As you mentioned, the distance where you sit is 8' ft. In affect, we would like to see the first reflections to hit 13' ft in total travel distance to your listening spot over its two axis. What we would like to see is at least 3' feet of distance from the acoustic centers to the sidewalls. The same can be said for the rear wall behind your listening spot. You would want that wall about 3' feet behind your ears at your listening spot.

This often doesn't work in many living arrangements so the best alternative is to place acoustic diffusing or absorption at certain points in the room to improve the room acoustics. There are plenty of options our there and some can even be used as decor.

As for your distances between the speakers and from your listening spot, those are generally fine. I'm just wondering if room is rather small for something of this size or are we just close to one wall on a single side.

I have put acoustic panels on side walls, but these are not direct by the side of the speakers, as they were put for first reflection points via the mirror trick. 

The room is a good size, but L shape. On that portion of the L where I have my system, the distance between walls is 11’, which means that I don’t have too much wiggle room from the side walls, otherwise the distance between speakers would be too small (I.e. only about 4’, if I followed the 3’ from side wall rule)

I wish I could post a sketch here, but don’t see how.

The mirror method will get the primary reflection, which is the more important of reflections to contend with.  The area of the wall adjacent to the speaker will have reflections that will likely hit other points of the room well before it hits the listening spot, much due to the very wide reflection angle. In any case, you've targeted the first reflection that you needed to.

If you place the speaker closer than five feed to your listening spot, the ability for driver integration. I would keep a length of 6ft or more from the speaker to the listening spot, which is something you've already done. These aren't near field and don't pretend to be.

Okay! It seems like I can “fix” everything except a couple of things that I am not sure of, so here we go:

1 - What is the minimum “allowed” distance to the side wall (from the side of speaker panel)?

2 - What is the minimum distance speaker to speaker (from drivers)?

Again, everything else can be changed (distance to back wall, from listening position, and such)

BTW - I am listening to the new Acoustic album of Eva Cassidy, and it sounds amazing! Incredible soundstage, clarity, and air. Very natural!