First, yes -- it is very loud if you are at the "official" watch locations. It's a physical wall of sound that hits you and you cannot hear anything but the sound. It is a very moving experience, though, and I can't wait for my DD7 to see her first launch.
That said, I have it on good authority (DH has connections) that the June launch is not occurring in June -- even though the launch website isn't being updated. The previous poster pointed out that launches are frequently (if not almost always) postponed, and this is no exception. This delay is due to the Atlantis delay from February/March that still hasn't been rescheduled. There is a technical issue that will prevent the launches from occurring so quickly. The launch for June is currently penciled in for August, but the Atlantis launch that is currently "unscheduled" is probably going in late May or June? So, that might be an option -- depending on what happens.
But, NASA has the right to change its mind. That (I guess) is why they aren't changing the schedule online. This is a HUGE launch for 118 and they don't want to draw attention. This will be the launch of Barbara Morgan (Space Educator Astronaut) to space. She was Christa McAuliff's backup on Challenger and will be the first teacher in space. So, if you want tickets, I'd get on it. I believe DH has said the tickets for Banana Creek are sold out.
I agree that Cocoa Beach is a great site for viewing. Unfortunately, when we tried to watch last June, the launch was delayed (see?) and we didn't get to see it. But, you can see the Cape from there and the view is supposedly amazing. The sound would be much lower, as well. I can tell you that we saw a huge rocket launch in early March from Ocala and it was so beautiful. So, a launch from Orlando is easily viewable. My dad saw Challenger's explosion from Orlando -- one of the more surreal things he's seen in his life he says. But, he has seen several launches from Orlando. And, they are obviously visable.