The Station reference is a good one. The people who
investigated that fire called that foam 'solid gasoline'.
Once it catches, the video showed peope had about
30 secs to 1 min to get out. At this point you are
fumbling with your bass and cords.
Stay away from the foam, or buy the non-flammable kind.
There are 100 dead club goers families up here that wish someone thought a lot more of the risk in flammable foam soundproofing materials.
Corner baffles can do a lot to improve bass acoustics.
Treena Foster posted this link on design of recording studios.
Much of the info is applicable. If the link doesn't work, please
PM her directly, as I have had major access issues on TB.
http://www.recording.org/users/acoustics/