I shoot my longbows 3-under, but have experimented with split. It's just not comfortable for me. I have shot 3-under for years and I'm just used to it so I'm sticking with it.
That said 3-under is certainly louder than split, but I have yet to hear a good answer as to why. I asked this over on the Howard Hill Bug thread a day or so ago. I've also researched it quite a bit and can't find a logical answer, but the consensus is that split is usually quieter.
As for nocking points, I tie two knots out of thread. I set my bottom knot so that the top of it is at 1/4". I then tie the upper knot so that it is just snug against the arrow nock. I have noticed that arrow flight is less consistent if there is some play between the arrow nock and the knots.
Also I sand my arrow nock throats down so that they lightly grasp the string. They aren't tight. I like mine so that a nocked arrow when pointed towards the ground releases from the string with a light tap of the hand.
I think all of these little tweaks really help with arrow flight consistency. Good luck and let us know if you figure out why split is quieter.