I have a pair of Bose Quiet Comfort 15's, supposedly one of the best noise canceling headphones you can buy. While it eliminates alot of the noise, noise still gets in.
The Shure does not use active noise cancellation like the Bose, but I think it is more effective simply because it fits snugly in your ear like a set of ear plugs. (It's also more uncomfortable because of that.)
Note that earplug use can cause earwax buildup. There are a bunch of home remedy's that can help. Talk to your doctor about options.