Here's where things stand with the budget:
I estimate I've got ~$500 in materials left to purchase including GOM and Spandex for the screenwall. That leaves me with ~$280 for sound treatments. Probably won't make it even going the DIY route, but we'll see.
The list above also reveals a little secret bonus I have planned for the theater. Since the theater is upstairs between two bedrooms and I opted out of isolating the room, I'm putting volume adjustable headphones in every chair. I'm going to modify my cheapie AVR to toggle the headphone port with an IR relay (currently it's set to switch when the 1/4" headphone jack is occupied) so I can remotely enable the headphone output. From there the headphone signal will get split to two 1x4 headphone amps and I'm going to breakout each channel's 1/4" jack and adjustment pot to each chair's storage pocket where they will be mounted with trick 3D printed brackets. The end result is that everyone in the theater will have active headphone jacks that are adjustable to their preference. Wiring is already laid out. I just have to modify the AVR and headphone amps.
Finally, if anyone is interested, my riser carpet is L009 Cigar Leaf from Lowes. I stole the idea from cdy2179's thread, but used Cigar leaf vs his choice to use L001 Dark Shadows.
Now, on to the main event: