Maximum PC Magazine's issue for last month (or it could have been June, now that I have the July issue in my hands) -- included a pile of minor hardware mods in an article, among which was an approach to using those electronics-store rubber-donut wire grommets to insert between your hard disk and the drive cage.
Now . . . I do not precisely recall every detail of the Max PC explication. However, there is a shortcoming with simply inserting a grommet between the drive and the cage: the screws themselves will still transmit some vibration.
So, for the diehard "last-grain-of-rice" seekers, who are willing to spend a few bucks, I'd recommend the Lian-Li "EX-23" and "EX-34" drive expanders. These things will fit in vacant 5.25" slots, for instance allowing three 5.25 slots to contain four drives.
Fact is -- I have bought these Lian-Li products just so I could tear them apart and fit the essential cage for the drives to slide-out server-array trays.
The Lian-Li product literally isolates their special (6-32 threaded) screws from direct metal-to-metal contact with the cage. In fact, you could probably mod any removable drive cage by making holes that provide an interference fit with the donut grommets, such that the screws fit snugly through the donut holes -- never making contact with the cage.
I also agree that the Acousti-Pak material is probably the best. I may have some Spire foam still in my parts chest, and the material comes in handy for insulating wire harnesses from sharp chassis edges.
Having used the foam padding in prior builds, the pains I've taken in my most recent work to isolate drive and fan vibration from the case, or using teflon grease to lubricate fan bearings -- have eliminated all but "white-noise" from wind-turbulence. So that explains why I haven't kept up with Acousti-Pak.