It depends on what you want from the space. For the optimal practice experience (IMO) you want the drums against the longer wall in the middle, with the PA and amps opposite, facing the drummer. That said, if you want it to 'feel' like a gig, then set it up as you said, with a stage at one end.
Personally, I wouldn't go with XLRs in the wall, as (again, IMO) they always end up in *just* the wrong place (right where the drummer wants to put his stool, behind a couch that won't fit anywhere else, behind 8" of acoustic treatment etc.) A loom with a stage box is much more versatile, and makes the room more functional.
If I was setting up the space, I would layout the drums as I previously mentioned, put a couple of couches in the corners (bass traps) and get a fridge with some beers in there.

If you want to be able to record in there, I would avoid putting any permanent structures in there (like an elevated section) as you want the room to be as flexible as possible.