Suggetsions for a Basic Home Theater Remodel

My wife and I just moved into a new house where we will be for the next 3-4 years. The downstairs (split-level house so it is mostly underground with 2 small windows on one end) is awful faux-wood paneling and linoleum floors. I want to remodel the downstairs so that we can use it as a home theater and to add living space to a not-so-large home (about 1600 sq ft, 3 bedrooms and 2 bath).


I have been reading several of the dedicated HT project threads here and am looking for some suggestions on what options to include and which to skip. The main goal is a space that we can use for our home theater that doesn't go so far as to "lock-in" the space for that use only. When we sell the house we want to appeal to as many prospective buyers as we can.


Our current setup uses a 55" DLP rear projection system so I don't have to worry about installing a projector and screen. Also we are using a sectional couch and not going with dedicated theater seating.


My plan so far is to tear down the paneling and existing ceiling to add the following:


- in-wall audio cables for standard 7.1 speaker locations with jacks on mounting plates


- A/V rack built into the right side wall (rest of that wall will be the closet for the bedroom on the other side


- in-wall tubing to run wiring between front screen location and A/V rack and the overhead projector location and the A/V rack


- moving the in-ceiling forced air duct from its current location in front of where a projector would go to behind the future projector location


- can lighting above the seating and 2 sconces on the sides for indirect lighting and dimmer switches


- carpet the floors


- built-in bookshelves and/or DVD rack at the back of the room with recessed lighting above.


Questions I need to answer:


- Drywall ceiling or drop ceiling? Which would be better to insulate sound from the upstairs and vice versa?


- would it be worth it to run electrical outlet to the ceiling for future projector install? Would it also be worth it to add a mount bracket?


- should I also run power to the speaker locations in the event someone wants to add speaker with built-in amps?


Any thing else that I have missed? I know a lot of people spend tons of money/time on acoustical treatments; for this project I really don't think it will be worth it given we will only be using it for a couple years and future home owners are just as likely to tear it down and use the space for a different use. My main goals are to take care of the structural concerns while the walls are getting re-done.


Thanks!