I'm guessing that since it's a basement you'll want to keep it light? If you can imagine this ceiling painted white, it might be a good starting off point: [houzz=]

I have the same dilemma...not sure what to do with the ceiling,,,This is one idea You could do drop ceiling, but I still don't know how much one would lose in height.. There are some nice ceiling tiles out there..

The duct work and piping is the dilemma because those pipes have insulation for one thing.....if you want a truly industrial look, just ignore the duct work, piping etc., don't bother painting the ceiling and hang lighting from the beams. Extend the walls up to a point
Or paint or stain the wood so it looks like you did this on purpose....

see: http://livegreenstlouis.files.wordpress.com/2007/08/img_0254.jpg

Sounds like there would be other concerns like duct work noises you wouldn't hear if they were encased in drywall

Agreed with painted black ceilings for a basement to keep it more open for accessing services.

The first thing I would do is make a closet to house the H/W heater and furnace. There is a new paint out for decks that you could use to camouflage some of the surfaces on the ceiling. 4 gallons for $78- Restore, sold at Home Depot. No primer needed. Could you box in some of the plumbing? I am mainly looking at the PVC and insulation. Stain the concrete and just place some carpet tiles to save on flooring.

Just me, but I would not do ceiling tiles. IMO they just don't look good...and we have some in our basement, which was redone by previous owners..leaning heavily towards sheetrocking ours. Good luck!

Kelly, smart ideas! I love those carpet tiles! ....Bobbi

Jayme, I'm not a fan of ceiling tiles..the only reason I consider them is because I want to have access to the pipes and anything else that might be necessary. There are really nice options, but the price is just too much ($20-$30 a sf). Another option is stretch ceiling, but I would have to see one in real life.

Where did those carpet tiles come from, Kelly? They're great and I haven't seen anything like them!

@printesa...I hear u, I felt that way too...but in 7 years of living here, there had been virtually no need to access anything that is in there, but once it made it easier to run some internet/cable lines! The tiles r a cheaper way to do it, I just wish it were sheetrock, so may change it out at some point. Also in our place, the prev. owners put in ugly flourescent lighting, which I am not crazy about.

FLOR is a company associated with Interface

I HAVE had to access things in my ceiling and now still have to patch those holes of missing drywall! I will do tiles in the next house.
What I did in my restaurant was cut drywall into the sizes of the openings for a dropped ceiling. In the bathrooms, I painted each drywall tile first with the wall color (rather than white). It looks like drywall because it is and you just see the divider bars. If that's not an option, I like the sprayed ceiling look. There's stuff called "dry fall" paint that turns into dust as it falls (around 6' so it could be a close call) and you spray it on. Maybe here just spraying would be fine since it's not too tall. The duct work needs to be de-greased in order for the paint to adhere but I don't see anything insulated but if it is, it can be sprayed too.

To address the ceiling tile/drywall dilemma......just create an access panel. Ceiling tiles are nicer than they used to be, but expensive and if there is any water damage down the road, you may not be able to find matching replacements. Drywall is easily patched. But I think an exposed ceiling is fine as long as you are okay with the look. If you plan to have a bedroom down there then noise/sound could be an issue, but if you are just looking for a space to hang out in or send the kids you have to decide if that is important to you. Take into consideration also if you plan on being there for at least 10 years......then decide the budget. If you are selling or plan a move soon do quality work with what your budget allows. For resale or added value to the home, I believe the space needs to be pretty finished to be considered added square footage. Just doing decorative touches doesn't count. You have insulated which is great! So evaluate your goals, needs, wants and potential down the road. Good luck! Here is an article that may help, there are more links at the bottom of it, too.
https://www.houzz.com/magazine/contractor-tips-finish-your-basement-the-right-way-stsetivw-vs~2612046

Kelly, the carpet tiles are perfect! My husband and I have been arguing over carpet vs. hardwood, concrete, etc. these tiles will allow us to both get what we want!