From a first hand experience with both quiet rock and green glue, I prefer the green glue. Quiet Rock was way hard to work with and not as good (in my opinion, in this particular instance), in my opinion.
Green Glue does work, and it is not hype.
However, if I had my preference, I would go with 'separated walls' and the metal separation stuff (resilient channel) on the ceilings, if the ceilings are high enough (forgot the technical name, at the moment). These are both superior to green glue and quiet rock.
However, having used Green glue in my own home, it has DRAMATICALLY improved the room, but it has not soundproofed it (hard to 'soundproof' anything). It is just much quieter in the Green glue room now...
If you really want to get into it, you can start here on thread page 15, or read the whole thread:
http://www.avsforum.com/avs-vb/showt...456614&page=15