Why would your neighbors complain.? Water-cooled spindles are very very quiet, probably quieter than your current spindle.!!

If you buy from China you will get a spindle with a proper BT30 or 40 taper or better still HSK rather than an ancient MT. Depending on how deep your pockets are with ATC as well.
The reason I'm concerned about noise is because my friend runs a high speed water cooled spindle on his machine and I can sometimes tell if he's in the workshop when I come up his drive because of a high pitched whine when cutting, and I already have about 40 x er32 toolholders (TTS style) that all fit in a MT3 to 3/4 adapter