I'm planning to finish a room in my basement that will have a TV with a moderate surround sound deal. Above is my living room with a hardwood floor. So I was wondering are there any tricks short of the complex sound proofing systems to help reduce the transfer of sound upstairs? Will simple fiberglass insulation help? I'm planning on recessed lighting so it seems some of the double thickness solutions would be problematic.
I'm gonna hurl myself against the wall
because I'd rather feel bad than not feel anything at all
They do make sound attenuation batt insulation that will help. It is usually mineral fiber based, and not fun to work with. Whether you use them or not, insulating will help, but you need to use mineral fiber and not conventional fiberglass.
However, the #1 thing I would do is install resilient channel or "hat" channel before installing the sheetrock ceiling. Resilient channel is light gauge metal and runs perpindicular to the floor joists, screwed to each joist where it intersects. The rock is screwed to the channel and not to the joists. This greatly reduces the points of contact between the rock and the joists, which results in reduced sound (vibration) transmission. It is cheap and easy to do.
In this picture they put it on the walls too, which you don't need to do.