I've tried using both sound-dampening material made for cars and specially made for pc's, and to me there were'nt that much difference.
In my old system (Codegen case, 80mm front intake noname fan, 90mm back exhaust noname fan, DragonOrb3 7000rpm hsf) I used the flat, rubber-like asphalt mats (it really is some kind of asphalt) on both sides, and it reduced noise a little, but the 7000rpm fan also made the whole case vibrate so that's why material made for dampening vibrations helped. So if you can feel your case vibrate then this could help reduce the noise, but don't expect miracles (see below).
For my new case I use two 80mm Papst Ultra High Output fans as intake and exhaust and since they made more noise than my older (but worse performing) no-name fans I got some sound-dampening material made for pc. The back is about 2mm thin and made of the asphalt vibration-dampening material and on top of that there's 5mm foam rubber to take the noise. It doesn't help at all, there might be a little difference in noise but not much, and the reason for this is that the sound is made by the air rushing through the pc. At least the temps haven't rised at all.
The noise is that of the air being moved, so the only way to get a truly silent pc is to get slower fans, soundproofing material won't help much as the sound of air being moved will be heard unless you do some serious soundproofing (such as closing all holes in the pc where the sound can get out, that means blowholes for fans and such).