Insulation, Radiant and Vapor Barriers - pipe and duct insulation

I live in a year old town home. In NJ where is it very cold right now, in the mornings it takes a while before hot water starts coming out of faucets. The only logical expalnation is that the cold water is the water left over in the pipes which radiated heat.
If I insulate the pipes in the basement (the only ones which I can access) will it help?
on an aside what about insulating ducts?
What are the products used to achieve the above and where can I buy them?
Thanks, in advance for your time.
-AKN

http://www.autocirc.com/Autocirc.htm This will solve your problem. This unit also has features like a timer and an on/off switch. You can purchase it on that site and I think Home Depot and Lowes has it. A friend of mine told me he got it a lot cheaper on Ebay. Very simple to install.

Live and learn!