I am finishing my basement right now and having just drywalled, taped, mudded and sanded the walls and bulkheads I am looking forward to installing this ceiling product called 'snapclik' I found at HD last week....not sure if its available in the US?
http://www.youtube.com/watch?v=7apTQz_FI-Y
Benefit: very easy to install, accessibility, great 'coffered' look with minimum height loss
Cons: price, much more expensive than sheetrock
Armstrong makes 'ceilingmax' which is also a maximum height product, similar in price.
Good luck!