I built my room out with that in mind but, over time, my wife has tended to only be interested when a specific film she wants to see becomes available, assuming she hasn't already seen it in a commercial theater. Nowadays my room is my sanctuary. It's where I listen to music, watch movies and...
For me my dedicated room is the one place in the house where my wife will allow me to do whatever I want to optimize the Home Theater experience. This could range from the color you choose for the walls and ceiling all the way to sound deadening measures such as wall treatments. Aesthetics...
Totally your decision but I would only recommend installing in-ceiling speakers in a dedicated room. If this is an open and shared living space it could be a real detractor when it's time to sell. Mounting them to the ceiling may not be as neat & clean of an install but it is easily undone...