I am in the process of getting some bids to get my new workspace drywalled, and have been scouring the forums to see as many layouts as I can before setting things in motion. I've seen a few workshops that have been finished with wood paneling (knotty pine tongue in grove, etc) and really like the look. Here is one example.
I would anticipate that it is also more durable than sheetrock, which I expect to get dinged up over time. Are there any big negatives with using wood paneling for finishing the walls in the workshop? Fire hazard? Not as light as sheetrock painted white? Large cost difference?