HI htg engineer,
Sounds like that the would be a great solution, any tips on best method of doing this work, ie tools for notches and should pipes be removed and re-installed before carrying out work. The carpets and floors are all getting renewed in the summer so coming up anyway, so should not be that bigger disruption.
The pipes don't need to be re-installed, unless you feel they're in poor condition or notice any suspect joints or corrosion whilst clipping and lagging.
Buy some plastic pipe clips as they allow for slight movement - if you make them too rigid something will give - normally a poor joint.
Also use screws or ringed nails as smooth nails allow for too much movement and sometimes work their way loose.
Use pipe insulation to lag anywhere where pipes touch, lagging pipes will also reduce the amaount of heat lost under the floorboards and more should reach the radiators.
As for the tools required - it depends on how much room you have to work in - the notches may be big enough and the abaove should solve alot of the noise. if not make notches larger using a saw, hammer and wood chisel.