When adjusting the ALDA to the lean side, will one possible result a quieter engine?

No, I leaning out the ALDA won't make your engine quieter. It just tells the injection pump to be less "Generous" when it comes to the amount of fuel injected, based on the amount of turbo boost pressure created.

I turned the ALDA in to reduce smoke (eliminate some of the unburned fuel from the exhaust) and the engine is a bit quieter. I have what appears to be a Nailing cylinder and this is a bit quieter as well. My thought was that perhaps less fuel per injection would allow for slightly more efficient lubrication. Anything possibility of that?

mccan,

Did you get better mpg by leaning the fuel mixture? Did you lose any horsepower?

Power seems to not have been affected. I was getting what seemed like too much smoke. So I hoped that taking the mixture towards lean would solve the problem. It seems to have done just that. Smoke is nearly non-existant.