Plywood Walls or White Plys (Vision Dreams of Passion)

I'm still searching for the perfect walls for my bedroom. I like the exposed lath and plaster situation, painted white, of course. But we only want to do that to the interior walls of the bedroom, which leaves the exterior walls. Now these walls are trouble. The house is over 80 years old, and has had its share of leaks. So those walls are kinda...skanky. Due to the expanding and contracting of the wet lath, the plaster is no longer connected to the lath. It kind of floats in front of it. And under the window, where my feet occasionally dangle off the bed and push into the cracked plaster, it has been removed.

So my options are drywall...myself...and spend an eternity mudding the walls and sanding until I get perfection. Or come up with something else.

Anything else.

What about plywood?

When done correctly, it looks nice. I'm not a huge fan of the yellow wood, so maybe I could whitewash it, keeping the grain...?

How does one find no knot plywood?

This is more like what I would end up with:

A little busy, but still natural. And there a cool built in shelf on the left!

Very simple, used as a headboard:

Oooh! Green stained!

I love this look with the mint bench! Industrial and yet vintage at the same time!

Mid century, anyone?

And danish modern:

And here's one of the only whitewashed plywood photos I could find:

I think it's the one, though! Wood grain and white and clean...exactly what I was hoping for in my tiny bedroom.

All images pinned to my Architectural Awesomeness Board on Pinterest.