Well, I'm not a stove engineer - but I did stay at a holiday inn last night
I would think there are going to be two key factors to consider. One is the thermal conductivity of the material, the other is the specific heat capacity of the material. Thermal conductivity shows how much heat the material would retain around the stove. This addresses concerns of 'overheating due to insulation' mentioned above. Would you wrap your stove in a foot thick blanket of mineral wool insulation? Most people would say "No way, it would overheat and I wouldn't get any heat out through that blanket of insulation" - this insulation has very low thermal conductivity. Likewise, you probably wouldn't think twice about laying a piece of sheet metal on the stove...high thermal conductivity. The other side is specific heat capacity...how much heat can the material hold...think of this as the size of the "thermal battery"
With this explanation, the ballpark numbers I see:
THERMAL CONDUCTIVITY (Btu-in/hr-ft-F)
Soapstone - 42 - 48
Firebrick, Clay (ASTMC62) 6.6
The soapstone is passing about 6.8 times more heat than the firebrick. ie the firebrick is a moderately good insulator compared to the soapstone.
Specific heat capacity (Btu / lb-F)
Soapstone - 0.234
Firebrick - 0.20
So the soapstone and firebrick both have similar ability to hold the heat.
In summary, I think an outer layer of firebrick should be similar to the soapstone in heat capacity, but the thermal conductivity of the brick is much lower which makes it a better insulator. Possibly too good as some have pointed out above.
For grins, you can figure out the heat storage of a soapstone stove...weight of stone x 2.34 x Delta T = Btu's. Say your stove has 200 pounds of soapstone and you fire it to an average of 300F (it will be hotter on the top and cooler on the bottom), then allow it to cool to 70F (230F dT) so 200 lbs x .234 x 230 = about 11,000 btu.