I had a '96 and have the '03. Both tops in good shape, neither leaked water, but there were a few more drafts in the older truck.
Noise-wise, the '96 wasn't as loud as most Jeeps I've been in, but a high-dollar stereo would have been a waste. The '03 only really gets loud around 75 MPH. Compared to the '96, it might as well be a sedan.
My most common configuration in the summer is top up, all windows down/removed.