A couple things. I'm an old Allegiance shooter from way back.

I also have shot that particular rest. They are a little noisy, but other than whats been stated, you can do a whole lot with it. Just mellow the sound as best you can.
As for the Allegiance, its as quiet as any of them. But, I've found they do need a little help. The Bowtech factory hush kit, IMO, leaves a lot to be desired. I wish they would get something together with Limbsaver to put their products on their bows. I leave them on the limbs, but I slide them do to the limb pockets. I then put a set of Sims Limb Savers on out near the cams. You will be absolutely amazed how much better those little peices of rubber makes the bow. I also ditch the ones on the string almost as soon as I get the bow home. I use the Sims String Leaches by limb saver. Make sure you use the the new generation as they hold up very well.
Also I use a Sims Modular Stabilizer on mine as well. Its not necessary, but I think the vibration dampening qualities of this stab help.