If you do go with a drop-down list with a large number of items, I would suggest avoiding the practice of imposing an arbitrarily small "maximum number of items shown at a time" on the expanded list (and including a vertical scrollbar on the expanded drop-down for access to the remaining items), unless you have a good reason for doing so.
I've been annoyed more than once at some application that showed me a drop-down list with a moderately large number of items (say, 20 or 30), but limited the number of items shown to a small number (say, 8). I have plenty of screen real estate available in the application window as a whole, and even more space available on my entire screen; so why force me to scroll the list to see all of the available choices, when the list could simply be drawn large enough to show all of the items at the same time?