Things that will help silence a bow are making sure all bolts on the bow are tight. If you can, shooting the bow at the peak weight will make the bow more quiet and more efficent. Put mole skin under the accessories where they attach to the bow. Put mole skin on the forks of the rest or use fork tamers and place rubber or mole skin where the rest contacts the bracket to stop it's rotation. Use string leeches or cat wiskers on the string and cables. Use Limbsavers on the limbs. Get a good "active" stabilizer like Golden keys or Stealth.
As far as arrows go it's a personal preferance to use carbon or alluminum. I personally like carbons cause they are much stronger than alluminum and as stated above they are either straight or broke.

One more thing, save yourself some tuning frustration and don't worry about getting it perfect until you shoot the bow 200 or 300 times to let the string strech and "set in".