"I just got the Rock Band Drum Silencers from Best Buy (also available from official RockBand.com store). They significantly reduce the noise to the point that 1) my wife doesn't complain anymore and 2) I can actually hear the drums in the *game* for once. It's $20 for the kit and the install takes under 5 minutes.I picked these up too and I'd agree that the noise is significantly reduced and the rebound response is better.
The only down-side is that, with them installed, you have to hit the pads quite a bit harder. If you're a light hitter, this might be a problem for you. I normally play on hard difficulty and didn't notice a difference in my scores compared to bare drum pads."
The lowering of the sensitivity of the pads can be countered by doing the coin mod on your pads (if you have the EL model).