As for noise, I think it will definitely diminish with homes. Our home currently backs to a main road, also 35 mph. I definitely noticed the noise at first, but you do grow accustom to it. We do get the ambulances and fire trucks roaring down occassionally, too.
Also, you have some beautiful trees in your backyard...I would think you would end up spending a lot of your time there rather than looking toward the traffic signals.
Looks like a great lot....I say go for it.
