Though I'd love to finish our basement to look as nice as the upstairs, that likely will not be in our budget for some time. I looked into the OC system....not quite a nice looking as the upstairs and way out of our budget. I do like the no-mold quality and ability to remove wall in case of a flood. It go me wondering....if looks were not high on the list, couldn't one frame in the 4 walls and then apply dry wall or some other 4X8 covering (suggestions?) and simplyrun a strip vertically along the seams. Get water damage...just pop off the strip and unscrew the panel and replace. I realize this won't be as asthically pleasing but am I thinking too simplistically?

My real question....We have a relatively square area, say 500 - 600 sq ft. I'd like to throw some carpet down, install a dropped ceiling and some flourcents and just paint the walls for now. They are poured and actually fairly flat and smooth. I would guess if I ever stud in walls the ceiling might need to come down, at least around the perimeter. What do you think? What should I paint with. We just moved in and I see no signs of water. The owner seamed to take pride in the home and stated water never came in.