I have both - actually 2 dedicated rooms in the basement, and I have rig in the living room. My wife really doesn't like music at volumes higher than background music levels, so I retire to the "man cave" for listening unless she's not at home. I do find it lonely at times, though often the solitude and peace is what I want. The other issue is since the cave is in the basement and windows are small, it can be a little dark and depressing. I try to address this with lighting and color, but it's not the same as the living room which has a large picture window with a view of the yard and street.
The other advantage of the basement cave is that I like to build, (which is one reason I have 2 rooms down there) and I have total freedom to remodel/rebuild as I see fit.
The other advantage of the basement cave is that I like to build, (which is one reason I have 2 rooms down there) and I have total freedom to remodel/rebuild as I see fit.