We finally decided to keep the shop in the garage, and to put the table saw (when we get it) in the basement. The cost of erecting walls in the basement, and having good dust collection would have broken the bank on materials cost alone, so we had to scrap the idea of a more elaborate basement shop.
We'll be using one bay of the two-car garage, as well as some space at the very end. Since there is no insulation in the garage, that's the first thing on the list, and is scheduled for tomorrow. That will be followed by bringing up power from the basement, to be surface mounted, and installing a ceiling heater. At that point, we'll be operational.
Yet to be decided is storage, curtain partitions if needed to contain heat, and some additional tools like a drum sander and dust collector to supplement our shop vacs. We're still not sure about an air cleaner.
I'll post progress pictures as we go, and hopefully will be able to get some new projects going. Can't wait!!!