Hi Bob, I am confident that if I lay things out properly, transformer orientation, shielding, separation, etc., it will be as quiet as the PH 150. Most importantly, the family sonic resemblance to the PH 150 ($7900 Reference Phono) is QUITE obvious in this < $3K design!
As it is made in the two box design, when put side by side, it is noisy. Separate the two boxes by 12" or more and it is quiet. However, and again this has to do with transformer orientation, when I put the two boxes face to face, close, there is VERY little noise at all! So, I am confident that with the correct orientation, shielding and layout, the one box design will be just as quiet as the two box when separated.
It is for the reason of space and ease of installation in this regard that I believe the one box solution to be ideal.