For many moons (4 decades) I've worked with guitar amps and specific speakers that are all 2-3 DB difference. So I'm very aware of it. Anyone who works in audio/recording/engineering understands.Guess it depends on the individuals since I’ve compared on 2 separate occasions with a few backs turned and both times they were hard pressed at determining which was quieter. You have better ears than anyone I know.
If one wants to talk about game, the arrow in flight at 30 yards away is way more audible than the bow on the shot.
Just stick a camera above the target at 30 yards, it’s quite obvious what’s louder
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As for noise in flight, no argument from me that it is more of an issue than shot noise- That said I've used feathers for decades and never found it to be a significant issue either. Many fixed blade broadheads are the worst culprit, IME.