Hi tspco -
I have a few thoughts about a suspended ceiling grid.
First, a ruby script could make suspended ceilings quick and easy if it was done right.
Dynamic components could also be used, depending on how refined the tool needed to be (for example, trimming corners on non-square rooms, etc..).
For tasks with that are essentially a series of arrays or copies, I would also suggest levering the basic sketchup tools to do the job manually. I say this without knowing your skill level in this area, but my first impression is that if it's taking you a few hours working on a ceiling grid, you may have an opportunity to improve just by understanding how to exercise the native sketchup tools to create your grid. I would suggest looking at the move tool and array functionality to create copies.
How detailed does your grid need to be? Are you going to do quantity takeoff from your model, or is it just a visual model? If I was doing it, I would setup the way I built the grid based on how I wanted to use the end product.