I would not recommend low rising carpet except as something to keep in
stock to place above the
main floor for pathways backstage to dead sound of show shoes.
Just plywood isn't ideal because of the grain and overall lack of smoothness. You will need a plywood subfloor of some sort, though, under
Masonite.
Masonite is the standard for most flooring purposes due to being not horrendously expensive, relatively durable, being a good paint surface and providing a natural sound when walked upon.
When purchasing the
Masonite, I highly recommend ignoring 1/8" completely for reasons of durability and being able to be taken up and put back down without shooting screws completely through. Additionally, get dual tempered, meaning both sides smooth, so that when one side is just to textured or is peeling from crappy paint, you can simply flip it. Both sides should be painted prior to installation for best results in regards to expansion and bowing (remember, it is a paper based product and like paper will shrink after being wet). I recommend a using the same type of exterior primer, such as MAB SeaShore or KILZ on both sides, and then painting one side with a
flat black. Again, I'm partial to MAB SeaShore. Others like the Glidden
flat black. Some people like
Rosco ToughPrime, I think it's ugly. You can just paint it black on both sides with black MAB SeaShore
Flat Paint or equivalent. I prefer priming first.
When installing remember to leave expansion space between boards, and counter sink each screw. Standard wood/drywall screws are fine. Don't get too long of a screw. 1 Inchers are fine.