It's noted for being honest and quiet (7,5)
I believe the answer is:
upright piano
'it's noted for' is the definition.
I can't tell whether this defines the answer.
'honest and quiet' is the wordplay.
'honest' becomes 'upright' (I've seen this before).
'and' means one lot of letters go next to another.
'quiet' becomes 'piano' (I've seen this before).
'upright'+'piano'='UPRIGHT PIANO'
'being' is the link.
Can you help me to learn more?
(Other definitions for upright piano that I've seen before include "The old joanna" , "Keyboard instrument" , "Musical instrument smaller than a grand" .)