I've been using maxifletch banana cut feathers exclusively since '93 after a friend (who owned an archery shop at the time) and I spent considerable time paper testing various feather shapes, lengths, and configurations (helical, strait, offset, 4-fletch, etc.) The main purpose of our "test" was singular in nature. Our goal was to determine which combination of shape, length, and configuration would stabilize an arrow in the shortest possible distance as evidenced by the tear mark in paper. Although arrow noise and speed were NOT the focus of our "experiment", you couldn't help but notice the noise associated with one fletching combination compared to another.
Of course we began with the bare shaft tuning process to determine proper arrow spine. But once we established which bare shaft flew the best, we didn't stop there. For our fletched arrow paper test we also used similarly spined shafts that were either slightly overspined or underspined. Our reasoning was, if a particular combination of shape, length and configuration would MOST QUICKLY stabilize even a slightly overspined or underspined shaft, then a properly spined shaft would stabilize at least as quickly.
As far as noise, it became apparent that there was a direct relationship to the length of a feather and the amount of noise it made. The larger the feather, the more noise was associated with it. Because we were just using our ears and not a noise meter to make the comparison I cannot say whether or not a particular shape is more or less noisy than another. But suffice to say that a 5.5" banana was perceived to be noisier than a 4" banana; a 5.5" shield cut was noisier than a 4" shield, and so on.
Which combination of length, shape and configuration resulted in a properly spined (and slightly overspined and underspined) arrow stabilizing in the shortest possible distance? Actually, TWO different combinations worked about the same: 1) a 5.5" banana cut maxi and 2) Four, slightly offset 4" shields (The four, 4" shields were noticeably quieter, and if I remember correctly, about 3-4 fps faster than the 5.5" banana maxis).
Because I try to set up my shots to occur within 16 yards at relaxed animals, the amount of noise my 5.5" banana maxis make has never really been a concern for me. Besides, I like the LOOK of my 5.5" maxis.