Only tip I have is be careful picking out a gray tone. We painted gray once and it felt like a prison cell in that room. LOL!Just something to think about.
You should consider gold metallic wallpaper with raised red velvet patterns all over it! My Nana's basement was like a sad brothel where you could only drink Dewars or club soda.
I used to house sit for this old rich couple that had a mod 60s basement with red shag carpet and an honest-to-goodness love pit - a sunken area about 8 foot square all decked out with silky pillows and fake fur. Maybe we should go that direction.
Here's where you put your two cents.