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		 Sounds like you want the look w/o the cost of a veneer plywood.  I would strongly recommend the GP brand beadboard paneling that looks a lot lit the 'real' wainscoting.  Takes gel stain pretty well and primes/paints like a dream.   
 
I hate the 'paneling' more than anyone else, but this stuff is great, easy to apply, and is priced right (+ is readily available.) 
		
		
		
		
		
		
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