[Paul T]

Thanks for all of the suggestions guys.
P-O-P, yeah I've seen those in other applications before and I really like them, but I don't know if I want to go with a suspended ceiling. I've never seen the plastic or vinyl tin look-alike tiles in person, but for $20 a pop, I can get real tin. I actually like the white wood plank idea the more I think of it, and I think it would fit the character of the house well (traditional colonial), also we have the same type of ceiling but with natural wood finish in an adjoining family room.

I personally think ceilings are one of the most neglected areas of a room, nothing beats a nice ceiling with quality moldings - they can make a room IMO.