I have a basement shop and here are some of the basics for my shop.
What kind of access do you have to the basement? I've got a French door walkout which enables me to get things into the shop that can fit through a 5'4"x6'8" (more or less) opening. I also have easy pickup truck access to the back door. Without that, I'm not sure how I would have gotten the bigger machines down there.
I ran a separate electrical panel for the shop. That allows me to be flexible with outlets and lights as my needs change. I also installed all outlets to outdoor code to keep as much dust as possible out of the outlets.
I ran good lighting to all parts of the shop, and made sure that there was direct light to where I needed it the most. I used fluorescent fixtures, but if I were doing it today, I'd use the new generations of LED shop lights.
When placing outlets, I took bench locations into account, so that my benches have outlets slightly above bench level. Unfortunately they poured the floor before I got around to putting conduit in the floor for outlets, but there's only one spot where I miss it.
For dust control I have the following:
* Dust Collector, cyclone, 1300+CFM, HEPA cartridge filter, to the stationary machines that generate a lot of chips/dust. I wish I could have isolated it from the rest of the shop, but it did not work out that way.
* Two air cleaners, needed because of how my shop is laid out. I have them set up so that I can use activated charcoal filters when finishing. All of my finishing is rubbed, so I don't have to worry too much about explosive volatile hydrocarbons.
* CT 36. I switched from DeWalt sanders and a Fein vacuum to Festool sanders and vacuum, and it has made a significant difference in air quality in the shop when sanding.
* About once a year when a wind comes up (and we get 50 MPH several times a year), I open the exterior doors and windows, start both air cleaners, grab my Milwaukee M18 blower, and blow out the shop. Takes a half an hour or so, and some papers usually end up blowing around which is irritating. The end result is that most of the stuff that cakes on over time gets cleaned out.
For noise, I have 32dB earmuffs, but at the same time I really try to pick the quietest tools possible. I also put insulation for sound in the ceiling to keep the noise out of the main level as much as possible.
That's the part of shop setup that I think is independent of what kind of work you are doing.