Blaze98 theater build, need input

[Blaze98]

My wife and i just recent bought a house after fighting with the bank for 8 months on it we finally got it, It was a repo house that had mold issue, but as we were fighting with the bank over it we found out from my parents that my God Parents used to own it and lived there. The house is having the mold removed by a professional company right now while we are on vacation for thanksgiving. The Basement has a room that will be our Media/Theater room. I believe the room is 18x15, has double doors going into it, has some tile and a drop ceiling, the tile and the ceiling are the first to go, but wanted some input and advice as to what you would do to this room. I plan on haveing a projector and screen.
also going back and forth on carpet or wood lamenant (spelling?) and wall color.
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