Frame up your walls in your basement, leave a 1.5" gap between wall and framework ( thermal break). Look around for a contractor to spray foam 2" Closed cell foam(2" will give you a vapor barrier) to all exterior walls. Dont forget the rim joist. Then cover with drywall or whatever you would like as long as it meets code. Insulating with foam board is a great idea, just remeber there will always be gaps and cracks that will allow heat to escape and condensation to occur ruining your finish work. You will see a huge difference if or when you use your wood stove in the basement.