Remember that sometimes what you've learned isn't exactly in the books or taught by a teacher, but are still learned within an institute. Things like project management, time management, development. Did you take art courses? Did you learn about composition, light and dark, perspective, contrast. You say "everyone else will just be presenting websites, small video clips and other things alike, more focused about what you learned from classes, the only tools i'd use that I learned in class would be adobe photoshop". It sounds like what your saying is that they're so special and your not. Then you say"I suppose I could also add a website and a interactive DVD..." This sounds like you would be caving in and doing what everyone else is doing. Don't take this the wrong way, but pick yourself up. Sure everyone can learn PS, but not everyone can create beautiful art. Lead your viewer through a piece of art, instill upon them the unseen, don't try to reach out to their minds, touch their hearts. This is the path you should go.
So, you say, "how should I accomplish such a task?" Do a Digital Tour of how to create a piece of art. Make it like a virtual tour of your mind, or your creativity. Use the tools from PS as you would virtually. Fake the interface if you have to, it's make believe time, time to make some Magic. Make it look like you are creating art on a virtual tour with PS as your tools. You see, you say "the only tools I'd use would be PS" PS didn't teach you how to make art, it was a tool. A hammer does not build a house, the person wielding the hammer does. A paint brush does not paint a picture, the person does. Lead the people to see what you learned. Show them what you see, or how you see it. That's what people want. They don't want to see a website like everyone else. If they did they would go on the internet.
Don't make something because you think that's what the audience wants to see. Make it for yourself, this is a part of you, a part of your soul. If you bear your heart, that is art. You like how that rhymes, hey! Don't forget presentation is also about showmanship. If your giving a presentation you're on stage. Put on a show. Am I on the right track, does this sound clear?
If you won't be using the tools that they taught you to create this project then I'd advise against it. The point of presenting a final project/portfolio is that it be something you could show to a potential employer that displays your skills in using the programs/techniques you've been taught - not something that's necessarily just cool. So if you think it will because a strong portfolio piece then I'd say go for it - but if not I would reconsider spending my last year of school on a project that's not going to get me a job.