I can't be a big help here - but my thoughts are: Paint the walls with DryLock Put up a vapor barrier Frame the walls Run electrical and plumbing Insulate ...(hang ceiling drywall - if that's how you're doing it.) Hang drywall on walls (hang it 1/4 inch off the floor in case of water.) Install ceiling (if drop ceiling) ..Do whatever with the floor
Hope that's helpful. For any of the stages listed, if you have a specific question, post an entirely new message relating to that stage & someone should be able to help.
Here's a site for that guy with all the wives: http://www.hometime.com/projects/howto/lowerlev/pc2low1.htm