I love a nice basement. It's a great place to hide and get away from the world. It doesn't have to be a dungeon but can start out looking like one. I have one that started out looking similar to this recent remodel featured in Maratha Stewart Living,November 2009.
Dark panelling in a basement I will never understand. But look at the transformation into a light living space. It looks like a totally different space. And the wall behind the wicker sofa becomes a Movie screen. The home owner uses a projector to display images and movies on the wall. I also love the exposed beams in the ceiling as it gives it more height and looks more like a barn than a basement. I will have wait on this idea that will have to wait for me since we have remodel our basement twice in the last two years,but maybe in the next house will have a dungeon that needs help!