personally, I like the idea of a drywall ceiling, but that limits access to pipes and electrical after the fact... i'm working on a combo drywall/drop ceiling for mine... drywall around thing like duct work and etc and drop ceiling everywhere else... the walls are going to be rough finished in half log pine siding (then varnished to preserve the look), with wrought iron wall sconce lighting in most areas with a few recessed can lights in certain areas... I'm working with a much bigger room and i'm actually splitting it into two areas, one where the TV and entertainment area will be and the other will be where the pool table, bar, and lounge area will go (my brother works for brunswick so i've got that pool table and bar furniture thing covered, hehehe!!)... there is a half wall i've already put up to cover up the posts and divide the room so the project has already begun... I happen to be a homebrewer as well so i'll have a wet bar with a two tap tower for my brews, in the back of the basement we're leaving it unfinished for storage and installing a 4person sauna with a window to the billiards area, it's either a sauna or a powder room and the powder room will cost way more... but it will take me another 2 yrs to finish it off as i'm not financing any of this... wife wasn't sure about it until i finished the half wall and started describing it, now she's really excited about it...