I think it would look fine. The problem you may have is finding a shower curtain in an appropriate length. Most shower curtains and liners are pretty much a standard 72" square. Having to find a longer one might narrow your choices considerably.

One other thing to think about is ventilation and steam. If the shower curtain goes all the way to the ceiling there isn't much place for steam to escape. It could also lead to mildew problems. If you leave the curtain open afte use so the bath and shower area can dry, the wet curtain will mildew. If you close the curtain after showering so the curtain can dry, there's not going to be much air circulation in your bath/shower area -- which could also lead to mildew.

Thanks for the response, the bath/shower is probably only used 6 times a year or so by weekend guests, so I think I'm ok with mildew, I just didn't want to do something that looked bizarre, but I think that the old shower curtain rod hanging 2 feet below the ceiling looked ugly so I'm trying to think of options that might be more attractive

If it's an infrequently used shower, you might also want to consider a valance extending down from ceiling level to just below the rod level.

Personally, I don't mind the look of a shower rod, as long as it's good quality hardware with quality curtain hooks.

Ginger makes solid brass rods with a choice of finishes in heavy plating. You might want to take a look.

Here is a link that might be useful: Ginger bathroom hardware

Someone here also posted a system that was a track attached to the ceiling.

I think in the thread they also talked about curtain length.

I don't have a link but if you did a search I'm sure you'd find it quickly.