We live on a 4 lane, undivided parkway (speed limit is 35 mph, but it's a major commuting road). Our driveway is on the parkway, but we tend to park on the sidestreet rather than use the driveway.
To jviska's points, I'll add that you will learn whether or not it's raining by the difference in tire noise (wet roads are louder), and we had a motorcyclist Evil Kneivel wannabe crash into our fence, throwing fence debris throughout the front yard where the kids were playing 30 minutes earlier. We since rebuilt with a stone walled planting bed and set the fence back a few feet. It would take a dump truck crash to get into the yard now...
I don't mind it overall, and we love the house, intend to stay 25+ years. The amount of traffic in front is a bit annoying during commuting hours, but with a shiplap fence and double-glazed windows, the house and yard are able to be enjoyed without too much interference from noise.