Rays,
Soundproofing is much more difficult than improving the sound inside the room. You can't just buy some panels and stick them up on the walls.
The two key concepts for isolation are Mass and Decoupling. You make the walls massive with two or three layers of sheetrock so they don't vibrate at low frequencies. Then you optionally build new inner walls that don't touch the outer walls. Same for the ceiling, and sometimes the floor too.
--Ethan
