^^^ What he said.
Really, staining just takes a lot more time, but ultimately its the look that you will eventually decide and no matter which it is, it will turn out awesome!
Can I ask why "black" as opposed to choosing a darker color? I ask because I thought I would go black on my ceiling, but when I came across a couple of threads where people were painting a darker color, not black, yet were saying that once the lights were dimmed, the color looked black...once I saw those threads and read those words, I knew I didnt have to settle on black. I went with a dark tea/gray/green (forgot the color, but have it listed somewhere in my thread) and it is black when the lights are dimmed and just as effective. And when the lights werent dimmed, it had some color to it.
However, my room also is not a dedicated theater...whereas yours is...so I might not be making any sense here.