Do not Drylok the floor using the original or extreme waterproofer - it will fail, it's not durable enough for floors. You can use Drylok Clear (might have been renamed Drylok Floor and Walls, or else that's just a similar product by Drylok that my store changed to recently) for the floors, or a penetrating concrete sealer such as RadonSeal.
Don't use Drylok on hollow block walls without drilling weep holes into the voids in the bottom course of blocks, or any water that makes its way into the block will exert hydrostatic pressure on the thinner walls of the block, potentially causing failure (it takes a lot less pressure to break 1" thick concrete than 8" thick concrete). Please note that the weep holes will admit water into the basement, if necessary, but this can reasonably be arranged to be below the parts of the wall susceptible to water damage. Drylok is fine on poured concrete walls.
If you have no history of moisture issues in the basement, you can forgo the Drylok - vapor barriers will be cheaper and easier than proper application of Drylok (which requires thorough cleaning, acid etching, and at least two coats with coverage of only around 100sqft per gallon (1/4 that of normal paint), according to its instructions). I'd recommend poly sheeting if you have humidity concerns, although it's probably better to just run a dehumidifier - even with sporadic moisture problems my dehumidifier keeps the humidity in the basement below 60% in the summer. If you just want a slightly finished look, you can absolutely just paint the wall.