On LI (US climate zone 4) it's worth putting 2" of EPS under the new rat-slab, with the poly vapor barrier on top of the EPS, and using 2" /R12 of Thermax on the wall. If you do it without the floor foam & vapor barrier, take care to keep the cut edge of the Thermax off the slab, since it can wick ground moisture. If this is a site susceptible to storm surge flooding (remember Sandy?), use EPS on the walls, not Thermax.
IRC 2012 code-min for crawlspace walls for US climate zone 4A (that's all of LI), would be R10 continuous insulation, which would be 2.5" of foam if EPS.
http://publicecodes.cyberregs.com/icod/irc/2012/icod_irc_2012_11_sec002.htm For the sub-slab foam, 2" EPS (R8) is still in a financially-sane range, according to Table 2 on p 10 of this document:
http://www.buildingscience.com/documents/bareports/ba-1005-building-america-high-r-value-high-performance-residential-buildings-all-climate-zones
It's more than just an energy-use payback, it's buying resilience. By putting foam under the slab and insulating the wall it lowers the mold & rot risk, both winter & summer.