We live about 200m away from Moggill Road near the Kenmore Tavern, and noise from it isn't an issue for us. Obviously, though, if you are close to the road it is a pretty busy one and noise would be an issue. It's not much used by big trucks or similar.
It depends how far up you are on Moggill Road. Generally the stretch from Toowong through to Chapel Hill carries a little bit of noise during peak hours if your property is right on the main drag. If you are up further toward Brookfield and Moggill - even during peak hour there is limited traffic and noise is kept to a minimum.
Any further queries, don't hesitate to contact me!