I live ina 1984 track home in CT that is not very well built. It is 2000 sq foot raised ranch with one bedroom down and 3 up, along with kitchen, lr and dr.

The noise level from downstairs is horrible. I can hear normal walking around and when someone is actually doing anything more than just walking it sounds like a heard of elephants.
It is fuly carpeted with decent padding.
IS THERE ANYTHING I CAN DO TO REDUCE THE NOISE?? NOT ONLY THE SQUEEKS IN THE FLOOR AND STAIRS BUT JUST THE NORMAL THUMPING??

Secondly, Have to replace the carpet. Would love to put wood floors in LR, DR and hallways but scared that that will only make matters worse. Yes or no>

Or I will replace with new carpet. Which means the old will come up - so now would be the time to try to fix the floor itself and the noise. THANKS

Try and accoustical floor underlayment, some can be placed under hardwood floors. This will help control some of the noise, but I am not an expert, so I am not sure how much. Iso Step is a company that manufactures a recycled accoustical underlayment. Perhaps you should check them out for all the details.

A Couple Options Would Be To Pull Sections Of Floor Up And Install Insulation Between The Joist, Or You Can Have Blown Isulation , Theyd Cut A Hole In The Drywall And Blow It In The Ceiling, Just Have To Patch The Drywall In Every Bay.
If You Go Back With New Carpet You Could Get A Thicker Padding