I recently bought a vacation cottage and am planning many projects inside & out. The living room is a large "great room" about 27x19 with an 8-foot ceiling of 1/4" paneling nailed directly to the trusses, with foil-faced fiberglass insulation above. This paneling on stud is popular in cottages in northern Michigan--maybe because it survives winter shut-down. Mine is quite uneven and with no walls, beams or lights to break it up, it's pretty obvious.

I'm thinking I can fix this 2 ways:
1 - Correct the flatness by either sistering new joists to the old, or running furring strips perpendicular to the joists & shim those flat. then hang a new ceiling--probably t&g pine planks.
2 - Hide the waves by breaking up the expanse some way. Thinking a coffered ceiling, fake beams, stucco...something like that.

I can't see how I can FIX the problem without losing nearly 3 inches of height (3/4 fur + 3/4 plank + shims for maybe 1" error) so I'm more interested in ideas to conceal the problem.

I'm open to any & all ideas. This is just a cottage so I'm looking for something I can do myself to keep the cost reasonable.