It's drop-tile, it's sheetrocked, it's paneling?

Designing any space in a house is all about making decisions, and designing home theaters brings even more choices above that.  Today, I tackle the issue of what to do about our ceiling.

We currently have drop-tiles for our ceiling, but there are many options to consider.

Our current setup with Drop Tiles

Keep the Drop-tiles
Pros:
It's free! 
Rather new
Clean white
The cutting of each tile is done well
I'd have easy access to wiring
Lighting is done professionally and even placed appropriately for my lighting plans


Cons:
Drop-tiles, to me, feel cheap
Painting the tiles would be a little more work if I wanted to go with a different color

Simple and clean

SheetRock
Pros:
It looks nicer than drop-tiles
Easy to paint
Can install star fiber optics, optionally
Can build soffits in the process of sheetrocking to make the room symmetrical, optionally
Better sound proofing options


Cons:
The cost would be roughly $600-$800
Access to wiring after installation would be troublesome

Excellent!

Paneling
Pros:
Would look fantastic!
Give us the library feel


Cons:
Usually requires sheetrocking
Cost is very high, starting at $2000 (Including sheetrocking)
Would lose about 2-3 inches on the height of the room (only 7'1" currently)




The decision?
Ultimately, I have to consider cost and how much I'm getting for my money.  As I said in my vision post, I am trying to get away with the lowest cost option while not compromising on design.  Drop-tile ceilings just feel tto much like a basement to me.  Anyone can reasonably argue they are nice enough and look fine, but that's not good enough for me.


Paneling is what I want.  It's also what Bets wants.  The cost is simply too high.


We will sheet-rock the ceiling, choose the paneling we like, and place lighting in the places where they would go if we were to upgrade to the panels later on.  This gives us the ability to upgrade the room when we can afford the frivolity of wood paneling.