My guess is that you want a "warmer" feeling basement, therefore, you are not interested in painted concrete, or tile. These products are good for basement applications. Whether or not you go with mexican tile, or quarry, or vinyl tile, they take a lot of abuse a basement application requires.
I am assuming you are finishing the plywood subflooring with a finished oak (or what ever wood) floor. If so, you seem to be on the right track. There is opposing schools of thought on vapor barriers. Personally, I would put it in. There is nothing wrong with the rigid inslation either. If you wish to run electrical conduits under the floor, you may wish to go with larger furring. You will have to deal with the finish floor elevation/basement step issue. That last step could be a Killer.
If your basement floor has moisture problems, I would think very hard before putting in a wood floor. You can hardly keep things from warping.
If you are finishing the plywood, and this is done quite often, then I would feel a little better. You can take numerous finshishes (faux for example) and go for a cool looking, warm, and colorful, painted plywood floor. The plywood is much more stable........and is alot less expensive. However, it may "drum" a little bit more than you like. But personally, I would not be too scared about it.
If you have heavy furnature going down in the basement, the perverbial pool table, for example, then I would make sure I had proper blocking under it so it wouldn't go thru the floor.
You could also use cement board for a subfloor if the insulation application is important. Then, you would have a more quite subfloor that you could carpet. The wonderboard is not necessary if you are carpeting, altho it will work quite well. It just is not as important for sound attenuation when you are putting down carpet.
If you are going to carpet, this is good too. You could carpet right over the concrete, however, and save a lot of trouble and money. But you know this, I am sure.
Others will post, and have good ideas, too. If you have additional questions, re-post and we will help.