I don't think this is going to give you the effect your hoping for. I've used the Dynamat stuff for years when I was doing high end custom car audio and it works great on a thin piece of metal like the inside skin of a door but I'm not so sure about using it for this application.
Let us know how this works out.
I would go the lead route myself. Yeah it's going to add a little weight but you'll never notice it.
This got rid of most of the vibration...at idle, I can't feel a thing. At full throttle the vibration still comes through. Will get the progrip gel grips to help even more.