That sounds really nice! Is it heavy drapery fabric or washable chintz? With my three dogs, I can't do anything that isn't washable. I never know what is going to end up on the bed!
I know what you mean about a ton of fabric. My last house had 12 ft ceilings and a huge window in the front room. I made the drapes for that room and I measured and calculated about 3 times. I couldn't believe how much fabric it was going to take. And I didn't even hang mine from the ceiling. Just from the top of the window! That's why I headed to the discount interior fabric store. Heavy chintz for $5.99/yard
Post pics when you get it done!