Walls and Ceilings - Suspended Tile Cielings or Drywall Cielings?

I am weighing the alternatives of both: I have never done drywall before, yet I am not scared. I have been also wondering this: should I install a perminant cieling under piping, such as my plumbing? I was wondering whether or not it is important. Right now, I have a completely bare basement with just the framing done and no cieling put in....my wife wants drywall, but I still want to have the freedom of running wires through the top. With drywall, of course, you can't do that. Can someone give me the pros and cons of each?

Drywall is cheap and easy. You can pull wire later if you want. Or you could run it now. There is a lot of drywall over existing plumbing now, so more would not be much different.

Suspended ceiling will be more expensive, but easy to do. You will lose some of your vertical height to the suspended ceiling. I doubt it could be installed in less than 1.5 inches of space.

Insulate your pipes to prevent condensation drips from staining your new ceiling.

With regard to your basement ceiling: I agree that drywall is the best option. But if you are interested in saving time in the long haul, do your wiring first. When you're finished doing everything you need to do in the ceiling, staple (rolled) plastic sheeting to the joists prior to hanging the drywall. Finishing drywall is a breeze. Email if you have additional questions if you decide to go the drywall route.