Should we just wood-frame the exposed half of our daylight basement?

[Erin]

OK, we've decided to go with block for the basement.  We're looking at going to Menards this week to get our concrete blocks.  99¢ per 8x8x16 block!  (It's even worth the $250 trucking charge.  Locally the best I can find is $2.20) 

But, that still comes up to about $1500 just for the block (incl. trucking), with no concrete... 

My question:  Considering we'd still have to make the step-down walls on either end, to account for the hill slope, would it be worth it to just frame the daylight, exposed half of the basement?  That is, would our savings be enough to make up for the additional engineering that would be required?
Or would it just be more structurally sound, and possibly easier, if we blocked the entire thing in? 

Basic specs:
24x40 structure, with the long wall built into the hill.  A fall of about 6' for the 24' run of the shorter side walls...  Sandy clay soil.

Any thoughts appreciated.  I think we're going shopping on Friday.  (I'm so excited!  lol)

[ScottA]

I would wood frame everything that isn't below grade even the steped down parts of the side walls. Cost should be much less and it will be easier to build.

[glenn kangiser]

What he said. :}

[Erin]

 
Thanks guys.