Right. Square rooms are bad. The good news is, with that much space available, you can have a world class room in terms of acoustics, and you won't have to jump through as many hoops as people in smaller spaces do to get it.
Things to look out for are the furnaces, which will generate annoying noise if you don't make some attempt to isolate youself from them, and seating, which people tend to put at the back wall when they build theaters, and that's a mistake. Popcorn machines on the rear wall, yes, seating no.
Run all of the following into the attic: ethernet drop (if you have an in house network), cable/sat feed, phone, doorbell signal, and double the number of power outlets code requires. Try to run power on a separate line from those furnaces - you don't need motor spikes getting into the gear.