Just to follow-up...
I used 1" pink foam board spot glued to the basement walls using PL
adhesive, then unfaced fiberglass insulation. No vapor barrier. I probably
should have used 1/2" green board sheetrock, but didn't.

If you have ever had water, I would recommend not putting the fiberglass
insulation all the way to the floor. Maybe stop about 2 feet or so above
the floor. That stuff soaks water like a sponge. I know this from
experience in oct 2005 floods.

http://www.buildingscience.com/docum...3-understandin...

Ok, I read it and if I understood it correctly. You should never
attempt to trap moisture, and foam board with-out foil or plastic
backing should be used in the basement. Right ?

It even stated that insulation between the studs without a paper face
should be used.

Thanks

Sid.

I would go with the extruded polystyrene (Dow Blue or Owens Corning
foamular). The foil faced insulation is polyisocyanurate which can
soak up water--a bad thing on a basement wall. If you have room, I
would go with 2".