Why not put the stove on the main level so you can enjoy it and not need to run the crap out of it? You can always add a stove in the basement if you make it a livable space. An unfinished basement is a pretty terrible place to heat from, heat rises but it also gets sucked through the basement walls at an alarming rate!
I ended up taking this to heart after doing more research. We are going to install a BK King in our den on the main floor - counting that floor and the upstairs we have about 3800 sq ft to heat. The deciding factor for me was how well the BK seems to do with ponderosa pine and doug fir (probably will be about 80% of what I burn. I plan on squeezing the BTU's out of it and a friend who has one said I should be able to find the sweet spot with the stove and loads so I can get on a 12 hour load cycle (that is what he does when it's real cold).
We are going to remove the gas fireplace and built-in shelving on the wall to make room and build a rock backing with a tiled hearthpad. Wish me luck and thanks for the input! It won't be cheap, but we will be happy to have wood heat and I already have about 5 cords split and stacked. Who knows.... if the wife likes it well enough maybe I can put another one in the basement and never see another $600 heating bill again!