grizedale, I can hear clearly to 16kHz. My fiancée can hear to 14kHz. Many of my students could hear to 18kHz, and we were shocked when one could only hear to 13kHz. It is very annoying for young people when engineers (who are generally older and deafer) create products that emanate noise within their audible range!
You should send the switching frequency above 20kHz, perhaps 25kHz or more, because component variation in production will cause some products to dip down in frequency.
I once built a 14V-100V boost LED driver, and I was running 300kHz. If I remember correctly, the efficiency hovered around 85%. The benefit you obtain from faster fsw is being able to use (much) smaller components, which can reduce costs (not to mention, making the product sleeker). I had other reasons to maximize switching frequency as well, other than form factor and price. However, I was using new and exotic inductors with low core losses and fast rise/fall times; with standard ferrite cores and EMI-conscious rise/fall times, you could probably push for 100kHz to 150kHz in this application. (You'd have to do the math to find the optimum efficiency point, as I'm not particularly inclined to.)
Question: Why do you have a 470pF capacitor attached to the switch's drain?
goldsmith, the noise you experienced when running at 500kHz cannot be attributed to the switching spectrum. Rather, it is likely that the control loop was small-signal unstable (as indicated when you said that the noise subsided when you changed the loop compensation). It is correct though that the switching regulator will downconvert signals at or near the switching frequency into baseband noise (such as low-frequency input-referred noise riding on the ramp comparator, or beat frequencies from nearby noise sources). Periodic loads placed on the switcher's ouput, such as PWM dimming, also can make audible noise if they're not done properly.
Hope this helps.