I see some of the new impact cordless drivers now use oil instead of a hammer/anvil approach. Supposedly greatly reduces the noise.
Back in my gear head days, the air-impact driver was a godsend. Nothing worse than removing rusty nuts on leaf spring U-bolts where there is several inches of threads to back a stubborn nut over. Also great for quick tear down of engines (head bolts especially). Didn't use for reassembly of course. I always lusted after one of those 3/4" monsters (based on the claimed torque capacity), but the mass was indeed intimidating.
-BR