Welcome and congratulations on upgrading! The STD Views can be of a parking lot, canal, garden area, pool, Epcot/Illuminations (hope I haven't left out anything

). Just have your preference added to your reservation.
OCI is fine to do, but will only have a pre-set number of choices.
It's always best to have all your requests in your reservation by calling the WDTC. Doing OCI won't negate your requests, but you might not be able to request everything you'd like.
I'm not sure what OCI means by "Water View" when you've booked a STD View room. A BoardWalk View is what you're thinking of and that is a bookable view only, not a request, unless you're staying club level. I'm guessing that "Water View" in this case must mean pool or canal and a canal view wouldn't be noisy and a quiet pool view probably wouldn't be noisy either.

to the DIS and the BWI/BWV thread! I'm going to leave your question to our BWV experts