Thanks for the replies. I agree that insulation on an un-exposed slab is a waste of money, however it does double duty of acting as the form for the joists, thereby replacing (wood) joists altogether.
A quick calculation using $180 /cu. yd. of regular concrete works out to $2.14 /sq. foot for a 3" thick floor slab with built in joists(plus $4-$5 /sq. ft for the forms). I haven't priced light-weight concrete, but my research seems to indicate that it's quite pricey ($6-$9 sq. ft.) for a 2" slab + the price of wood joists.
My concrete contractor is going to love me (and my wallet).