Is sheetrock necessary for basement walls if I plan to install built in shelving and cabinets? Right now I have the walls down to the studs on poured concrete walls. I was going to put insulation between the studs and attach shelving directly on the studs. Is this okay? I would appreciate any tips.

I'd put plastic over the insulation. It should be fine. The sheetrock would just be for looks, it wouldn't add anything structurally.

Use styrofoam insulation glued to concrete with construction adhesive. Plastic is not recommended as a vapor barrier.

Good luck

Chuck