Hi Pudzer,
The insulation between the joists may stiffle but will not completely get rid of the noise of someone walking across the floor.
The insulation will help reduce general first floor noise such as music etc.
Is it too late to lay a noise proof membrane on top of the joists.This will cost a bit but anyone I know with a young family would gladly bear the cost of concrete floors to avoid the general noise caused by walking, rocking beds etc.
Hope this helps,
Wexford dude