If you can put the sump in your basement, go for it! Many people do it that way.
I am setting up a 180 now and the wall its going on in the family room is a shared wall with the garage so everything is going out there. It makes it SOOOOOOO much easier to work on stuff. Plenty of room to mount all my ballasts with breathing room, chiller, skimmer, kalk reactor, dosing pums and controllers. Everything is going to have easy access. I'll post some pics when I am finished with the set up.
As Rob said, the main concern is getting the water back up to the tank. I like Iwaki pumps for this. They are not quite as efficient as some others but really reliable and super strong.
Good luck and post some pics when you get everything going.