#1
We just put hard wood floors upstairs which includes my bedroom. I use an amplitube setup for guitar as well as some bose for my tv. The room is very echo-ey and gives everything a much harsher sound and echo.

http://www.amazon.com/dp/B006FL5QDY/ref=wl_it_dp_o_pC_nS_ttl?_encoding=UTF8&colid=L739AG1O73DV&coliid=I2OKK4RURBYKR3

Thinking about that as something to get started with. Is this halfway decent? Looking for inexpensive and just something that will suck up the unwanted echoes and harsher sounds.

http://www.amazon.com/2x12x12-BURGUNDY-CHARCOAL-Acoustic-Soundproofing/dp/B00ATP5KF6/ref=pd_bxgy_267_img_2?ie=UTF8&refRID=0YMW6R4ZHT0SVPMRSDFF

Also considering this to add a little color to the room as well.
#2
I'm not a foam fan for acoustic treatment (and I have some of this stuff hanging in my studio right now). Foam is pretty lousy as an absorber especially in LF, and tends to age and fall apart after only a couple of years. There are a lot better choices for not much $$.

https://www.youtube.com/watch?v=9I1revxApwQ
"Your sound is in your hands as much as anything. It's the way you pick, and the way you hold the guitar, more than it is the amp or the guitar you use." -- Stevie Ray Vaughan

"Anybody can play. The note is only 20 percent. The attitude of the motherfucker who plays it is 80 percent." -- Miles Davis

Guthrie on tone: https://www.youtube.com/watch?v=zmohdG9lLqY