Yep, the sound level was too low. Because of the 'boomy' nature of the room's sound, and the fact I have neighbours, I tend to be a bit cautious with the volume control. Too cautious in this case.
I've also got both speakers running now, and the results are attached.
Surprisingly, apart from the slow decay at 43Hz, most of the decays are no worse than the graphs Ethan posted on his density page.
I must admit I wasn't expecting this as, whilst 'quiet' music (acoustic guitar etc.) is OK, playing something like Rage Against The Machine's 'Bombtrack' is extremely unpleasant - boomy, one-note bass and very unclear.
I've now obtained some material samples for covering traps, and will get the fiberglass soon.
mrnomas, what weight batting did you use? I've got a sample of 2oz, but there are many others. BTW For UK buyers, some places refer to batting as 'wadding'.
My only concerns now are that my room is an ackward shape, and not all corners are going to be easy to get a trap into (curtain poles, window sills etc.), but I'll work round that.
The biggest problem is that there's a large window at the end of each room (behind/in front of the speakers), so it's going to be pretty much impossible to put anything on those walls.