The Chinook and the Merlin are complementary, which is why the US Army is absolutely right to be buying CH-47Fs while the Marines get VH-71s for the Presidential mission (and the USAF should be Merlinning for CSAR-X).
The only reason why those VH-71's exist is because Chimpy Jr. wanted to do Tony B. a political favor.
The Merlin has a crummy payload fraction, a high center of gravity, and the fuel tanks are in the wrong place.
And please tell us why or how a Merlin could be a lot quieter than an H-47.