I don't really have much to offer, so I'm just here for the upcoming build pictures. This should be pretty cool.

Make sure you have enough electric for all the machines. You might also want some outlets up higher in the wall for TVs / signs / etc. If you're doing a drywall ceiling, you might want to consider some strategically placed conduit for future wiring. Are you doing any type of storage / electrical / data room?

Since this project is pretty much new construction below grade, doesn't the contractor have some type of guarantee against water in the basement? I've been in my house for a few years and haven't had any issues with water (thankfully). It isn't damp or anything. It just feels like another living space.

Just keep in mind that if you have any light fixtures or want to put in ceiling fans, you’re going to run out of headroom really quick.

Also, the higher the ceilings, the less it feels like a basement and the more it feels like another living space.

What you're referring to is called a soffit.

If you do it right, you can build the soffit so you only lose a few more inches. It doesn't have to be 1' of head loss. Believe me, that extra few inches will make a big difference once you start dealing with low ceiling heights.