D,
> Is rigid fiberglass the best solution for isolating the basement ceiling from the floor above? <
I'm afraid not. Rigid fiberglass does a fine job of treating the sound
within the room, but it does little if anything to prevent sound from travelling between rooms.
Isolation is much more difficult to achieve than room treatment. The standard techniques are mass and decoupling. That is, you make the walls and ceiling as massive as possible with sheetrock, and you optionally build new walls and a new ceiling below the joists that hangs from shock absorbers or resilient channels which do the same thing.
> Are there any good publications on building a small basement home studio? <
I have "Building a recording studio" by Jeff Cooper which devotes all of Chapter 3 to isolation. This book is out of print, but I got mine from Elderly Books:
http://www.elderly.com/books/items/580-1.htm --Ethan