everyones gonna say wear ear plugs
Take the limb savers off and buy a good pair of earplugs!
Seriously, the noise can't be reduced enough to make a difference, so don't worry about it. I think if you can find someone else to shoot the bow for you and you stand back and listen you'll find it is much less than you think anyway. The stock seems to amplify the noise for the person shooting the bow. If you have a fastflight string you might want to change to a dacron string. This will have as much noise reducing effect as string silencers, but it will cost some speed. (string silencers cost speed, too)
And the advice of wait a year is right-on! I've been shooting Excaliburs for several years, and I don't even notice it anymore. Matter of fact I took the DB's off my Phoenix so I wouldn't have to worry about taking the pads off when I unstring.
Just keep hunting shots close, and the deer won't notice either. I have a personal limit of 30 yards for deer, and with the Phoenix at close to 300 fps they don't move until the arrow is through them.