Pat86323 - is not the bullet that is slowing, but the gasses escaping behind it. By increasing the area in which the gas is being contained, it will decrease in temp. I think it is Boyles law in chemistry. It is the same theory that your AC works on. Anyways... the slightly less hot gasses then (still hot to the touch, but not as hot as it was) is moving slower. It then gets passed through baffles before being ejected through the end of the supressor. It works exactly like your car muffler works. With a supressor on, you might actually see a small, statistically insignificant, increase in velocity because the bullet is under pressure longer. The crack will be there as the bullet transcends the sonic barrier (with supersonic ammo) at the end of the barrel (no air to crack to speak of in the barrel). With subsonic ammo, you can get quieter than a .22lr. Some larger cans can get supersonic ammo that quiet... well .30 cal rifle ammo at least.
A supressor that slows the bullet will wear out quickly... one that only slows the gasses will last 10 of thousands of rounds longer before wear affects noise reductions.
-edit- I was wrong, it is Charle's Law, not Boyle's Law.