To kind of pull this thread back to center a little.....
sashime76, when I did my basement I did a double base plate for the walls. I used PT 2x4 for the boards that touch the floor, because it is a basement and you can't escape moisture totally and I put the walls on top of that. As far as electric goes, you can frame up the walls before the electric is done, but that's it. Once the new panel is in and the wires and outlets are in you can insulate and sheetrock.
For the ceiling I would definitely go with a drop ceiling. It gives you the flexibility to run wires or fixes pipes (if needed) after the ceiling is in, and it's a lot easier to replace a couple of ceiling tiles if you have a water leak, than it is to fix a drywall ceiling.
For the floor you need to definitely put the sealer down. We just bought industrial grade carpet tiles for our basement. Not real comfortable to lay on or sit on, but that's why I have furniture.
Having said that, we went that way because we got the tiles for cheap and any other option that we wanted to consider was too pricey.
One other thing, if you get water in the basement and you only have a sump pump you may want to consider a more advanced drainage system down there. It would be easier to have someone look at it now and install/create new drainage than later after the walls are up.