Steve,
> Somebody had mentioned at one point that 12" thick R-19 insulation would be as good as 705. <
I've never packed fluffy fiberglass tightly like that, but in theory it
could work as well as 705 if you compress it enough. One problem is it's pretty messy to do that. 705 is cleanly cut, fairly rigid, and it keeps its shape well.
When I've seen people compress the fluffy stuff they usually sandwich it between pieces of chicken wire, which makes the outside ugly and lumpy and difficult to deal with. If you're on a tight budget, the easiest thing to do is buy batts of fluffy fiberglass, leave them tightly packed in the plastic bundles, and simply stack them up in the room corners. It looks like hell, but it works well enough. Or wrap some gift paper around the plastic bags to make them look like really big Xmas presents.
--Ethan