I've hanged quite a few times right next to creeks etc.
Yes the noise is very relaxing but after a while quite loud and sleep can be hard to find.
Now I just use trusty ear plugs when I camp. Isolates all the other noises as well, not sure if that's a good or bad thing but I sleep very well with the plugs in.
I just take them out when I wake first thing in the morning so I can still enjoy the peaceful bush sounds awakening, all after having a great, quite nights sleep.