Considering your hearing issues, and your focus on sound quality in the room, have you considered using headphones (wireless or corded)? With good headphones you would save a lot of effort and reduce your sound floor dramatically. I personally couldn't use them, but it's something to consider.
I too am on a tight budget, finishing my entire basement in addition to the theater. I too really considered just doing a "normal" room and not worrying about sound isolation. Then I realized that this house is going to be where I live for a long time, and that the odds of me being able to afford the time and money to redo stuff down the road is nil. So I'm going a bit slower than I'd like, (due to financial constraints) but doing it the way I think is right for my case. I don't see the isolation efforts as adding too much cost to my entire project, especially since I'm doing so much of the work myself. GG, clips, and drywall aren't that expensive, heck, sheetrock is $9 a board?
But it's your project. That's hard with the group here, because we seem to attract the OCD types (I fall into that category) who obsess over every detail. You need to feel comfortable with what you're doing, embrace your decision, and then get it moving.