I have the magneto and use it w/ some hutchinson road tires. Pretty quiet. I tried it w/ my Ritchey Speedmaxs (CX tires) and it was way too loud.
I set mine up in front of the plasma for total immersion. I use the time to clear out the tivo too. Helps to use a heart rate monitor to use as a guide, I set it up for intervals. Got some spinervals DVDs for Xmas too, so I'll be using those until it stops f'ing raining out here. Although, I am racing CX this Sunday, man, that's going to be muddy...