Ours is DIY, completed about 5 years ago. Sounds like your intended use is very similar to how ours is utilized - entertaining, game watching, etc. You'll notice our space is all drywall. One of our friends did his using Z-brick plus stained tongue and grove wood (walls and ceiling) to achieve a city pub look. Basic build elements are similar though.

If you haven't made a plan, do that next. Causes me concern that you mention you're in the "early stages of finishing our basement" because not having a plan is the biggest mistake most DIY'ers make. You need to consider humidity control, auxulary heating, etc. before beginning to build. You're on the right track though, you know how the space will be used. Any time invested up front in a working plan will be repaid many times over throughout the project. Good luck.

Do exact measurements. There's nothing worse than not being able to fit that dishwasher in place because the wall is 3/4" of an inch too close.

Wiring for media is a lot easier when it is done before the drywall goes in.