I am finishing my basement as well. My friend is an electrician and did all the work in my new home. It is 1840 sf and I have about 48 recessed lights. Sounds like a lot but it doesn't seem like you can have too many. If you have many in the same area you may want to think about putting them on a dimmer. But I think recessed lights are the best solution for a basement or space with shorter ceilings. You can nail up the can lights & hang the drywall directly to your joists- much better finished look than drop ceilings.