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I have the Dewalt 734 planer. Yes it is loud, thats what hearing protection is for. And it does a great job of most hobby level stuff.
The old Foley you have may be of a much higher quality but is only 8 1/5 inches wide. Far short of Dewalt 12" that is usually on cutting boards and most other projects.
I had an old Foley Belsaw with a 5 HP motor. It was a beast and you could run it all day. I had to buy these special jibs? that were needed to set the blade heights. It was a 15 minute pain in the butt but didnt have to do it all that often.
Given the choice, I would sell the Foley and buy a new Dewalt.
 
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