It doesn't seem like anyone has tried - to properly soundproof a car with stuff like dynamat, you'll be adding 200-300 pounds or more of sound insulation to get where you would want it. Dynamat or other sound insulation is not light stuff (either thick rubber, or asphalt mat - yes, asphalt). Rarely does that overlap with the group of people who tend to want to make the car lighter and stiffer.
To answer your question, yes, it will acheive the effect you want, but you'll be driving around with essentially an extra passenger or two all the time.