My experience is that the first reflection off of the ceiling has a negative impact on the imaging. The best sounding room for me was a very high ceiling with a vault that is lowest on the speaker wall and goes up as it goes to the back wall. Won't work for you but there are lots of products that address reflections.
room dimention question
Is a 7ft 3" ceiling a bad thing? I might be renovating a basement and could have a dedicated room but I think the ceiling would only be 7ft 3". Is this a problem? where can I get a quick down and dirty discussion of how to do a room? Also where do I get the info on electrical. Thanks