The next challenge was to address the concrete chimney - it cut into the room about three inches, with a footer that added about another three to that. I figured that I could live with carpeting over the footer, but really wanted to be able to have two sconces on each wall and have it all line up. The exisiting framing was busy holding the joists up, and was doing a good job for the last 40 years, so I opted to leave it and 'add' another three and a half inches. I don't recall how many 2x4's I ripped down on the table saw, but at the end of the day I was able to bring the framing out enough to run a straight shot of drywall down that side (assisted by furring strips).
While thinking about wiring runs, I hatched the idea that it may be good to have line-level inputs near the front seating - for if the kids want to plug in their Xbox, my laptop or whatever. I ran 3 sets of RG6 plus two Cat5's to a box that will be just to the left of the front row. That way, if some new toy is introduced at a later date, it can be removable and avoid having to muck around in the equipment closet.
The equipment closet was destined to occupy the left side of the existing space, and I'm planning a DIY 19 inch rack solution for it. As for the other side closet, after much debate, I chose to keep it as storage - for those items like Christmas stuff and odds/ends that you only really look at once in a while. A louvered bifold door will occupy the right-hand side, and can be accessed by pulling the seating forward a small amount. This door will also provide access to the rear of the equipment closet by way of an access between the two spaces (it was either that, or dig a tunnel to get in from the back

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I built a soffit to contain the PJ as well as hide the small HVAC run that was unable to be moved. (Chin-Up Certified!). The soffit allowed me to move the PJ a bit forward and reduce the throw distance, as well as serve as a hushbox to reduce noise for the back row. The smaller opening to the left of the future bifold will be built into a shelving unit to hold DVDs and other items....