Reduce noise for who?
Although noise reduction is a big issue for communities, which are close by airports, I think many of us are forgeting the noise experienced by the passengers on board.
There are some pretty obvious safety issues (design deficiencies) with the AMELIA (Advanced Model for Extreme Lift and Improved Aeroacoustics). First of all, if you remember some recent catastrophic engine cover failures in select Rolls Royce engines on Airbus 380 jets, the covers failed to stop engine parts from being ejected as schrapnel. Since the engines are located below the fuselage, any ejected material is less likely to make its way into the passenger compartment. A far greater threat to the jet in this design is a catastrophic engine failure and/or engine mount (pylon) failure. If the engines are located below the wings, they will fall earthward. No big deal, unless you are on the ground in the wrong place at the wrong time. If they are above the wings, they will remove the tail and possibly other parts of the aircraft and everything will fall earthward.