Older homes often lack insulation under the basement slab. Even if you decide to leave your basement floor uninsulated, it's a good idea to insulate your basement walls. Rigid foam insulation is a good choice against the concrete; many experts recommend leaving the stud bays of the 2x4 basement wall uninsulated.
Wahoo Walls is a basement finishing paneling system. It is water and fire resistant, supposedly has an insulation value of R13, and takes care of 4 of the most brutal steps of DIY basement finishing (framing, insulation, drywall hanging and mudding) in one step. It's paintable and doesn't have the ugly seams that many basement finishing systems do.