Shiny Lil Detlr- Check your PMs.
I went with a cathedral ceiling for a number of reasons, some of them questionable. There are a few practical/functional downsides to say the least, but it's nice looking

I had the "no ceiling" in my previous shop, an old Ford dealership building that was built in the '20s. Very cool looking, easy to hang stuff, but it was a *real* pain to clean those rafters!