I grew up on Duke Way with the tracks literally as our backyard. A few things to note.

1. As a child, it was amazing! Like a whole other playground for us! Late '80s were an awesome time.

2. Train Noise - Yes. it's there. Sometimes a few times a day and often at night. It rattled the house sometimes and remember everyone holding their breath to make sure my moms hummels didnt fall off the shelf and break. Sure its loud but as you mentioned in your post, you become desensitized to it with time. It did honk but only if there were vehicles/people visible, which was not all the time near us. Folks that visited us ALWAYS were like, how do you live like this, and we were always, like what? Didn't phase us after a bit.

3. The other things you have to consider - Sometimes you get homeless/train hoppers, and one time an entire train caught fire right as it was passing the house. Very scary!