think you pretty much covered it. I don't know a lick about concrete work, but what common sense I posses leads me to understand what you wrote Beemer. I've also seen plenty of stages of home construction, so I do have some sort of offhand experience/gathered knowledge, though I wasn't aware of some of the specifics you mentioned in regards to a clay base....don't run across that much up in my area as we are mostly sand.
I certainly would not be happy with a basement wall that wasn't looking up to snuff, and from what's been described thus far, it isn't.