I don't wanna be a contrarian, but in my experience there is no noticeable difference. I used to do the first coat of BLO routine, but I stopped it years ago because I found that going straight to ARS gives you exactly the same appearance, and you don't have to wait forever for the BLO to dry.
The only time I use BLO anymore is if it's going to be the only finish applied. And I don't really do that anymore either because T&T has taken its place.
I think people way over-complicate finishing. All you need most of the time is one kind of juice, three or four coats. Get it on, be done.
Some builders around here don't use the exterior foam board, but rather stud and insulate the entire basement. Their selling point is that it's cheaper to then finish the basement as a living space. The problem is it covers any potential water infiltration in the early life span of the basement. The exterior foam board also protects the sealant applied to the exterior of the basement when it is back filled with gravel for drainage. Local code here requires a sump pump in the basement connected to the drain system around the base (footings) of the basement walls. Our sump pump cycles, even in the driest of seasons. If the exterior sealant were compromised, we'd likely see dampness on the walls somewhere.