On my '67 S3 I used a combination of the following:
Latex paint with micro balloon. This is a $5.00 a gallon mistake color mix exterior latex paint picked up at the local hardware store. The micro balloon comes from Aircraft Spruce. 1 lb will cost about $20.00 including shipping as I recall. Mix by hand so as not to crush the glass spheres.
Take 1/4 gallon of the paint and mix in the micro balloon until you're happy with the consistency. BE CAREFULL. The micro balloon will do nasty things to your lungs so make sure you're protected.
My mix came out to about 4oz of micro balloon to about 1/4 gallon of paint. Be prepared - you may need a 1 gallon container to fit this all in.
The micro balloon adds air pockets (for lack of a better way to put it). The trapped air helps with heat insulation and maybe a little vibration resistance.
I painted most of the front half of the cockpit with this including the firewall. I stopped just in front of the seats. I also painted the rear cockpit area around the diff. Use thin coats. One or two is all that's needed. Total weight is about 3 to 4 pounds.
RAAMaudio - Rammat. I used this where I expected the most heat. So, it's applied to the firewall and first 6 to 8 inches of transmission tunnel and floor on the exhaust side. It is heavy so I used it selectively. I placed this on top of the paint mix described above.
There's a comparison of several products here:
http://www.caraudio.com/forums/audio-te ... rison.html Closed cell foam. 3/8" wrapped over the backbone before the body was lowered into place. This really makes for a nice snug fit and reduces vibration.
I have a ceramic coated header and custom stainless exhaust and no cockpit heat issues. I also have no noise issues inside the car. With the top up its relatively quiet. From the outside and to the rear it's a different story.
I didn't do anything special to save weight and this car with no top but with about 1/2 tank of gas comes in at 1495 lbs.