Figure about 1 cord in 3 is heating the earth around the home. Insulating the walls will make a notable improvement.
^ This.
And speaking of "knowledgeable"... that's not me! I'm just verbose, and maybe good at connecting the dots others have laid out.
But living in an old un-insulated stone house, I do have ample experience in trying to heat masonry, like your basement walls. Remember, heat is transferred by three mechanisms:
1. Conduction, one object physically touching another
2. Radiation, the line-of-sight heat you feel standing in the sun, or facing a camp fire
3. Convection, the movement of heated air, hairdryer effect
Stoves move heat into your room by the latter two, radiation and convection. Of course, the convection starts via conduction, air touching hot stove.
The overwhelmingly-dominant effect for most stoves is radiation. There's always a little convection, but if your stove lacks a "convection jacket" or "convection top", the actual convection off the stove is going to be relatively low, in comparison to radiation. But remember, radiation works only by transferring energy to the objects within the stove's line of sight, and if you have concrete basement walls, that's where most of your hard-gathered and hard-split firewood BTU's are going.
An interior partition wall can accept this energy, and then conduct it to the air (slow effect, requires a lot of surface area at low temperature differential), where it is moved to the rest of the house by convection. But with an exterior masonry wall, especially one set in earth without a strong insulation barrier, that energy is mostly conducted out into the wet earth. There is no chance for it to conduct into the room, when resistance path and heat capacity of wet earth is so much better than room air.
If you have a stove in a basement, you would do well to pick a design that advertises itself as convective. Most of the cast-clad steel boxes (PE Alderlea or BK Ashford) fit this criteria, as do many others. In addition or alternative to that, getting the basement walls insulated would be huge.