we had a pellet stove in our first house. It was a raised ranch...the downstairs wasn't finished when we bought it...we finished it ourselves and, instead of running pipes for heating, we put a pellet stove in. It got the house NICE and toasty! That thing was great!
some models are "louder" then others...the fan on ours was kinda loud, but my FIL has one and it's really quiet. all depends on the model you get.
and, yes, you HAVE to stock up early on the pellets for the heating season...start stockpiling over the summer! since the price of oil/natural gas has gone up so high...people bought these as other sources of heat, causing quite a demand of pellets.