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I don't see how putting towels around your spare would make a noticeable difference unless your spare was bouncing around back there...
Proper sound deadening won't cost a whole lot (aside from time) and you'll still have something to dry yourself off with and wear after taking a shower
My method:
Elemental Designs V3 - 1 Gallon - $50
3/8" Closed Cell Neoprene Foam - $44
1/4" Open Cell Foam (Carpet Pad / Jute) - $15
3M Super 77 Spray Adhesive - $5
Last edited by jtabraham; Aug 7, 2009 at 01:10 PM.