Well, 6' - 6'5" doesn't give you room for a built-up platform. That'd be about 10" high, knocking your headroom down to 5' 6" at best. Not comfortable.
The other legal requirement is an exit. Bedrooms are required to have an exterior exit of a certain size - I don't have my code book with my, but 18" x 24" is a very rough estimate. And that's -clear- space, meaning the space you can crawl through when the window is open, but without removing the sash. If you don't have an exterior exit from the basement already, you'll need one, which will be more concrete cutting, and some digging to put in a well for the exit (you can get preformed wells meant for this stuff).
I don't know what your budget is, or how much you'd be doing on your own vs hiring someone, but this isn't a thousand dollar project. I think it can be a very worthwhile one, but you have to be realistic about the costs.
One thing I will point out, though -- if you're OK with living upstairs, then sharing a bathroom presumably isn't too much of a problem. You can probably plumb a sink, with a small pump underneath, without too much hassle and without busting up the floor. Just use the toilet and shower upstairs. It sounds like alot of the issue is "your" space vs "public" space, and if you can claim the basement as "yours", and do with it as you like, you'll probably be alot more comfortable. I'd certainly put some walls up, and get wall-to-wall on the floor (unless you're not a carpet person). Heck, I'll be out of work again in a week, and you're not that far away...
Edit: D'oh. You can get toilets that drain from the back, instead of the bottom. They're meant for slab applications like yours. My understanding is, they aren't cheap, but they might be cheaper than busting & pouring concrete - it's worth looking into. You're still a bit stuck on the shower issue, though you could put a bathtub with a handshower on a platform and just ignore the low headroom (since you wouldn't be standing). A shower drain is also much smaller than a toilet drain - you might actually have room to work with it.
I've been trying to get ahold of my plumber; if I do I'll pick his brain a little. I'm not familiar with plumbing costs (I don't do the money at work, and the plumber is working on my house for free, in exchange for my wife's old minivan).