I just got my first one a few weeks ago. It's a Hurricane Suppressor made by SRT for 5.56mm.
I'll have to admit, I was a little disappointed when I first tried it. It ranks at the top of the list as far as noise reduction, but like you said, the sonic crack is still there.
Hollywood has made these suppressors out to be something they are not. You're not going to be cloaked in silence when you shoot the thing. You will, however, be able to shoot your AR without hearing protection (at least I do.) You'll also keep from disturbing your rural neighbors. My neighbors don't mind the sound ou a 22 going off 500 times in an afternoon, but shoot an unsuppressed AR 500 times and they think you're nuts. I prefer not to maintain that image.
My suppressed AR is every bit as loud as a 22 rifle, but not any louder.
It's really cool when you take your buddy shooting, informal style, and y'all can talk and BS without wearing hearing protection and without drawing too much attention.
edited to add: I have since let it slip out to a non-gunnut that I owned a suppressor. He asked "Why would you want to shoot with a suppressor?" to which I replied "Why would you want to shoot without one?"
It's really, really dumb that they are regulated the way they are. You wouldn't dream of regulating mufflers on cars.