if you ever want to hang or secure things to your walls in the future, I would stay away from 2x2 strapping.
I have done a lot of basement repairs and dampness repair. Once the ground surrounding the house has been graded so it slopes away from the foundation, you can glue large panels of insulation to the cinder block walls. You now have insulated your walls without using 1000 tapcons. You can now build a 2x4 wall and place it against the insulation, secure your stud wall to the floor and the above floor joists. you can now easily run wires and plumbing through these open spaces.
Have fun renovating!