Basement framing Ideas.

Framing out this portion of my basement. I have a few PEX Lines running along the bottom of the ijoists - I'm thinking of strapping some 2x4's along the bottoms and that should be enough for the hot lines wrapped in foam. I also have that pesky drain that comes down quite a bit. Kind of sucks that the plumber didnt keep things inside the specified knockouts for the joists, but he would have had to do a bit more work.

That being said. Should I box it out, and maybe build a faux beam into the ceiling? The room is going to be a gym - but I want it to have as high of a ceiling as possible. The ceiling is 10' - the cleanout comes down around 1'. It is the blue lines on my Home Designer screenshot. - The Pex leading left, and the cleanout going top to bottom.

Also - for the side walls. I was thinking of running the walls to the ceiling, backing with 2' XPS, and filling the cavity with rockwool.

Anything Im missing?

Here's the layout in Home Designer - https://imgur.com/M0aXPbf

https://imgur.com/a/Us1FFx0