I have a Sears shop vac and it doubles as a leaf blower. Take the motor off, put an extension and a nozzle on the output, and it works ok for piling up leaves.
When the motor is out, pushing leaves around, it is quite quiet. When it is on the plastic "kettle drum" vacuum base it is as loud as hell. Therefore I suspect "sonic coupling" between the motor and the drum, which could be overcome by good design.
I bought a .1 micron (?) bag and started work on a replacement base for my shop vac, one in which the motor would be sonically separate from the base. I quit working on it because I'm space-challenged in my one-car garage shop. I just wear hearing protectors when using the shop vac and so far no neighbors have complained.
But my experiments make me think this could be a much quieter shop vac. - Remove the motor. Hang it from strings from the ceiling. - Run a 4" dust collector hose from the shop vac motor to the base. Seal both ends well.
Through proper design this "acoustic separation" between motor and drum could be achieved in shop vacs which would look very much like common designs.
Thoughts?
-- Mark