That be a great project for the winter . I would not be too concerned with the ceiling,with the duct work you could add a few outlets for heat down there ,plumbing add a mop sink , great for cleaning things up and washing up.
I assume the basement is dry . If you are like going too put up walls, I would suggest a pressure treated baseboard (board to floor)leave about 1/2 inch airspace between the block wall and the wall, insulation I would use a poly fiber board ,
Seeing you will be working on a concert floor I would suggest getting some rubber mats to put done in places were you stand (easier on the feet)
A separate electric circuit box is nice to have . Plenty of outlets for plugging stuff in