I, too, have a love/hate relationship with Fastrack. It's very smooth, goes together easily, and the switches are wonderful.
However, after awhile the noise gets to me. As someone else mentioned, for me it's not so much the volume, but rather the frequency/pitch of the sound. Again, for me, the sound become grating. When I have two trains runing the loops, even at slower speeds, I get annoyed.
That never happened with tubular or Atlas O.
That all being said, I did an experiment once to see about quieting the track.\What I found is while the concave underside does contribute to the "noise", it is really just amplifying the noise created by the hollow rails on the plastic roadbed.
One night while really bored, I took a loop off the table, and then bent open the rail tabs and removed the rails from each section of track.
I have a ton of RTV sealant in my garage that I use with my car projects, so I grabbed a few tubes.
I then went about filling each rail with RTV, and smoothing it out to be level with the bottoms of the rail.
Once all the rails were filled, I then reattached the rails to the roadbed.
I reassembled the loop on the train table, which is also covered with green indoor/outdoor carpet.
Now I had a loop of quasi-solid Fastrack. To my ears it made a HUGE difference.
Granted, it was a long process to fill each rail, but it worked.
Just an idea for everyone.
FYI: I have since gone back to tubular with newly manufactured Lionel switches.