On Jan 29, 3:44 pm, blueman3333 wrote:
We seem to be having a fair bit of cold penetration along the basement
mudsill (above the stone foundation) and between the floor joists.

I would like to insulate and my first thought is to use a combination
of the 2 inch "pink" rigid insulation (cut to size) plus expanding
foam insulation to fill remaining irregular gaps.

Any other or better suggestions before I start the project?

The ideas you have sound OK. Since the draft is coming in through the
floor jouist I would consider getting up there with come regular caulk
and seal all the cracks where the cold can come in. Foam is only
needed for really big cracks.

At that point you could just use fiberglass bats which are
conveniently sized to fit in the space between the joists. It would
require some type of ceiling to finish however, drywall perhaps. A
finished basment adds to the function and value of the home and
finishing the ceiling is a big step in that direction.