No drop ceilings in a basement theater if sound isolation is a goal.
Not too worried about keep the sound out of the rest of the house, I rarely crank things up and if I am, its because everyone is in the room watching something... I am more concerned with keeping things budget friendly and ease of access to wires/components
If in-wall speakers/subs and tricked-out hidden projector screens isnt for you, then its fairly standard stuff around here,
For me I already have all the components I need, its just the room to put them all in.
The ideal end game room setup would be:
Components stored out of site:
2 direct tv boxes / PS3 / HTPC / receiver --- I have all of these already
Displays at the front of the room - 120" fixed frame screen with a optoma hd20 projector providing the image and a 55" LED tv next to it --the components will feed my displays in the folllwing way, each component will have its HDMI out split into two signals - 1 split will run to the receiver - that feeds the projector, the other split will feed the LCD.... with this I can have any combo of the sources on either display at any time....
Why you might ask... honestly I have it this way now and have been spoiled by it... its great to have a football/basketball game on next to the projector while the Mrs. and I watch a movie... or if she is watching some stupid show I can play video games without being in the doghouse.... or for NFL games sunday it is nice to have the game mix on the 120" screen and redzone or my favorite game on the 55".
Then my speaker setup could be exposed, no need for in wall or ceiling, just as long as that where they are sitting/standing there is minimal wire visibility, and I won't need/want surround sound for the 55" LED... since whatever is one there is basically "extra" or "supporting" my A.D.D. while something is on the main/big display.
and you don't expect to have to sell in the near term, the basement is clearly the superior space.
I don't plan on moving from this home for at least 7+ years... it is plenty big to have a family in if we have a whoopsie-baby or two so barring a major career shift, whatever we buy will be our nest for some time.