Jason,
The ceiling turned out beautifully I must admit. We were just over there today admiring it, especially the Cherry Den/Office ceiling. With painted woodwork you can cover up an open miter with caulk, not so with stain grade Cherry hardwood. We were looking at the one acute angle and how tight the joint was. It would have been very difficult even for an expert craftsman to achieve that in the field.
I have to say, your system is the way to go. After all the painting was done we were able to put up and finish the Great Room in just 2 days. It would have taken a month the old way. We had to cut out for four lighting cans and two vents, otherwise it would have gone even faster.
Pictures really do not do it justice. All done, turned out beautiful.