I'll explain a little about what we did and hopefully you'll get the encouragement to just do it if you're on the fence about installing beadboard.
We purchased one panel of beadboard from Lowe's for around 19 dollars. You can find it here. That's all we needed! Just one panel.
We of course measured and measured and then cut out the pieces that we needed with a jigsaw. It's very easy to cut. We just glued it to the wall with liquid nails and let me tel you, that sucker is not going anywhere! We caulked around the edges, and then I painted over it with a fresh coat of white paint. It's really that easy! I was going to trim out the edges, but couldn't find any trim that fit just right, so I just caulked it before I painted, and I think it looks great.
This is what our kitchen looked like when we moved in:
It's doesn't look like a HUGE change in the photos, but in person it looks so much brighter and open. Plus it matches the island/bar bead board that was already in the house when we moved.
Onto the next project! Honey, are you ready?!?