I think that there are pros and cons with both, however, I believe that a developer should have at least a "choice". With this I mean, for some of the work I do I can sit in a noisy environment and get stuff done, take e.g. doing some HTML or something else mostly "visual", however, when I need to focus and I am going to be juggling loads of tiny details in short term memory I want an environment that is quiet so I can focus.

The problem with a noisy open space environment is that my environment is going to decide when I can do work. When I have the inspiration to fix a problem and I need to be able to focus, this has to be on "my terms", not that of my environment.