How much room/thickness do we have to work with....your figures were deceiving.........What about the room casing jambs etc?.......
You're talking about installing the boards vertically.......how tall is the ceiling ? the whole room?
I've cut the center of the wall/drywall out to install "nailers" for wood board installation (good time to relocate the electic outlets .....insulate).....replace the drywall between the cuts.........Compound/Mud?..not me...........
Extra Insurance........ribbons of "construction adhesive" at the right locations.......
Cover the floors........get some of that sticky paper in Model homes .....check with YOUR flooring guy.......