My inclination is to say use a vapor barrier between the stud and the cinder block. If any moisture collects from condensation, that's where it will be. That's better than having the moisture in the insulation or in the drywall.
If you paint the drywall, it's going to trap some amount of moisture behind the paint. So if you get any moisture behind the wall, most of it's going to stay there because of the paint. Eventually it will be absorbed by the insulation and the drywall.
So if that sounds logical, it's foundation wall, drylock, vapor barrier, stud wall & insulation, drywall.