Thats an interesting article and it does explain how sound is isolated and how to isolate sound in new structure or remodeled structure, unfortunately I don't have those choices.
I admit I wrote the question in a hurry, and was very specific, so for the specifics of the question.
I need something in the line of material, batting, rubber, perhaps free standing panels or hanging panels.
I'm not so worried about keeping sound out of the room, as I am with keeping sound in the room, so I guess the real question is, would acoustic panels or perhaps something cheaper, be able to do this?