Painting basement ceiling black a good move?

[Paul Winka]

Paint a ceiling black??

Just bought a 3/2 982 s.f ranch built in 1966. The basement is partly finished but will need demo of the current drop ceiling. The ceiling is around 7 feet without the drop ceiling. Not keen on spending for  a new drop ceiling and was considering painting the ceiling black on the suggestion of a colleague..but I dunno...can't exactly undo that back to bare wood once that's done. Is there a better color, or is this a mistake altogether?