Is it worth the time and trouble to add insulation to the outside of a ECB?

[checkmarc]

I have an ECB that I've modified with many of the suggestion I've found here.  Gasket around the lid, new thermostat, damper over the opening where the old thermostat was and using a Smokey Joe for my fire box.  I need to add an expanded metal charcoal basket and I'm getting that done tomorrow.  With the modification I've made so far the ECB held a temperature between 215 and 230 for over two hours and I'm fine with that.  Will adding insulation help to reduce the amount of charcoal used?

 

[noboundaries]

You could pick up an inexpensive welder's blanket from a place like Harbor Freight tools.  Fold it up, toss it over the ECB, and see if it helps.