Popcorn

We are about to close on a fairly large house (2,800 sq ft living space). The problem is, every celing is covered in popcorn. I guess that makes approximately 2,800 sq. ft. of popcorn, not including vaulted ceilings, skylights, etc.
I searched online and overwhelmingly found that the best (though messy) way of removing popcorn is to spray it with water using one of those pump garden sprayers and then scrape it onto a tarp. After that, you should be left with unfinished sheetrock again that you can patch, sand and paint. A lot of work!

I recently heard a friend say that they were able to just take one of those joint compound sanding tools with the mesh, and basically only knock off the popcorn, but leave a foundation of textured mud still on the ceiling. Then all they had to do was paint over this to create a finished, textured look. If this works, I will go with this.
I'd appreciate anyone elses experiences with this type of work.

Also, I've read that the compound used prior to 1978 could have Asbestos in it. Our house was built in 1984, but I've still been given warnings. I was told that inventory that existed in 1978 when the ban was implemented was not required to be destroyed, so that it is not uncommon for houses built in the 80's, to still have popcorn with asbestos. Also, I called a testing lab (only $20 to test), and they told me that you can still buy materials today that contain it. Really? I guess it's better safe than sorry. I'll at least know whether or not I should wear a respirator.