A little bit of a different answer than some others gave- what you are thinking of will work but only if you isolate the bolts from the handlebar stanchions as well as adding the sheet of rubber. What you would have to do is to machine the bolt holes larger in the stanchions, then put a washer and sleeve of rubber inside them, followed by a steel tube to tighten the bolt against. That way the handlebars would be 'floated' around the bolts. Exactly the way Kawasaki mounts the tank on a C-14, for example. That way you could maintain the structural stiffness (easy boys!) of the handlebars and yet isolate them from high frequency vibration at the same time.
A similar way to do the same thing would be to isolate the bolt that holds the handle bars proper in the stanchions, turn down the handlebar diameter that goes into the stanchions, and use either a rubber sheet wrapped around the handlebar or something like a series of O-rings to isolate the handlebars.
You would have to try different durometers (hardness) of rubber to find the one that works best.
A very different way to attack the problem is to add cruise control to the bike. By being able to relax your right hand, or even let the bar go for a little bit during a long trip, it tends to eliminate the problems caused by the constant vibration. At least it works that way for me.
Another thing to try is BMW sport bike grips. They are very soft and pliant, and combined with soft palmed gloves they go a long way to making the handlebars far more comfortable for long periods of time, again at least for me. The BMW grips are quite reasonable in price too. The one downside is that if you ride bare- handed, they will leave black bands on the inside of your hands.
Brian
Despite installing a throttlemeister, new exhaust and grip puppies, I still have that buzziness in the right grip that puts my hand to sleep. I was thinking, what if I were to put something rubber between the handlebar riser and handlebar (to deaden the vibrations).
Has anyone tried this, before I go through the process of trying to find a flat sheet of appropriate rubber, cut it to size, etc?
thanks!