If you measure 48-1/2" from the top plate or the sub floor, you will get precisely the same location as 48" from the finished ceiling if they use 1/2 drywall...
48-1/2" from the subfloor makes it so the drywallers cut only three sides of one piece.
So, we're talking about the same thing.
[This message has been edited by sparky66wv (edited 08-30-2001).]