Is the waterproofing mainly for peace of mind, another future similar incident? I'd spend the money on foamboard rather than a vapor barrier. Foam board, thick enough to prevent condensation is suggested by BSC: http://www.buildingscience.com/docum...lation-systems
If near New Brunswick, NJ, your average annual low temps are 46* above grade. Without any f.b, just R-13 cavity in a wood frame wall, at 70* you'd be good to 46%RH. R-5 (1"f.b.) =good to 55%RH, 2" (R-10)= 60%RH.
Have you figured your heat loss/savings yet: http://www.quadlock.com/technical_li...Insulation.pdf
Page 69, and find your wall make-up: http://www.buildingscience.com/docum...study-analysis
Clothes taking longer to dry?
Clean the dryer screen in HOT water if using fabric softener sheets.
They leave a residue that impedes air-flow, costing you money.
Clean the ducting in the last six months? 17,000 dryer fires annually!