Thanks again everyone!!!!
2manyhobbies: I will post pics once done. I'm on the down-hill slide. Will look forward to seeing yours too!!!
flybreit: Go for it!!!! ;-) It is sooooooooooo worth it.
Peaceandjoy: I COMPLETELY understand where you are coming from. I had used the basement as a "catch all" for several years and it was horrendous. It took me one year to get things organized, thrown away or given away. Then I started on the painting.... I used DryLock on the walls first.... it provided an excellent foundation and is a bit pricey.... and to top it all.... is truly awful to paint with. It is extremely thick... like painting with paste. While our basement has never been a damp one, I can still tell that it helped with what little moisture we had.
Here is my one HUGE piece of advice.... when you get to the point where you are overwhelmed.... just back away.... back slowly away... ;-) ... and get back to it on another day. This happened to me on many occasions. I tried to commit about 30 minutes a day to 'the basement' (as I work full time). It took a while... but over time.... it finally came to fruition!!!
Go for it!!! I truly LOVE my space... it has given me a place of refuge and joy just to be in it.
Let me know how it goes!!!