While drywall hasn’t been around nearly as long as plaster (which is far harder and has certainly passed the test of time), a good drywall job will last a long while. You can do it yourself, but it’s really challenging and you’ll need plenty of strong, experienced and patient help. A skilled professional installer makes it look easy and fast – but it isn’t! Here’s a link to a good explanation of the process from the folks at This Old House:
Hanging Drywall: DIY? Maybe Not