Building a new room

A room is an adventure, yet it is the most important 'component' you will ever buy. I built a room years ago. Some things to consider: build up the floor over 2x4's and sheeting and then lay carpet; use dimmers that are RF proof; if your heating plant is in the basement you need to isolate it otherwise the noise will seep into the room. I put mine on isolation pads and treated the duct work with sound proofing; consider a separate electrical panel and service to service just that room; hopefully the dry wall was glued and not screwed to the studs. Plan to pull the speakers out from the wall, at least to a point they are in a 'third' point in the room. Keep all your gear on a side wall and out of the speakers first reflection points. Be prepared to do acoustic tweaks for a few months to you get 'better sound', like Jim Smith recommends. Enjoy.

We recently finished a Home Theater room of very similar dimensions. At each corner we brought the wall in at a 45 degree angle a couple of feet to avoid the traditional standing waves problems associated with most rectangular rooms. Placing the speakers then against the flat corners and positioning the seating to the natural crossing points has created a 'sweet seat' area that is truly spectacular with good source material. As far as a dedicated circuit, flooring, etc...I basically agree with what has been said to this point.

Buconero117,
The furnace is in the basement and will be behind the new 4th wall. Hence I want to use double dry walls on both sides for this 4th wall. The furnace is already in place - so I cannot put isolation pads underneath it. Hence I want to know what type of isolation pads to use in this 4th wall being built? Regular fiberglass or the one I mentioned above? I do not have the speaker cables to move the equipment to one side. I can get that done at a later point. For right now, I can get a stand that is lower and place my equipment between the speakers. I also plan to get some Hubble IG outlets at couple of places. Yes, I am ready to do some acoustic tweaks.

Brauser,
I have some GIKs for the bass trap. Hence do not plan to do the wall at 45 degrees. I do plan to get the speakers at least 4 feet from front wall and 3 feet from side walls. It will all depend on how the speakers sound in that room.

I don't know if its possible for you, but I tend to like ceilings that have some type of slope to them. Start at, say, 8ft in the front of the room, and have it end at 9 or 10 feet at the end.

I built a room using Quietrock. Double stud with Quietrock 545 on each side. The STC of this construction is 80 dB (very quiet). The Quietrock web page has excellent, easy to read white pages of building a music room with sound insulation. Enjoy your process.