I just dug out the Sparkfun pump linked above & I think it would work fine for pick/place use. You can under-run it at about 8-9v to reduce noise (not too bad to start with), and it still puts out plenty of suck.
As I mentioned before, you ideally want a valve to release quickly, but on a DC motor powered diaphragm pump, you may be able to get close to this by actively braking the motor.
You'd probably need to have some intentional leakage as well due to the pump valves, but I think that pump has plenty spare capacity for this.