I can't see it being that loud, as the one on my Jetway board is minimal, ie no louder than any SOHO router/switch that is activley cooled with a small 40mm fan.
edit: Just figured I would add I'm on the search for another board. Right now the main selling points are SATA and Price. I'm having a hard time not buying the intel, but I've read a few places that with heatsink its over 44mm tall, that would be too much or really close for my 1u case. I'll have to check. Also that it runs so hot it kind of pushing me away.
I'm looking at another Jetway board, the cheapest with Dual Sata I can find is basically the board I have, its $99 bucks. I would use the Jetway I have but I can't seem to find another dual Lan board cheaper. I notice there is hardly any CPU usage on it at all with IPCop and alot of torrents, software dls, and browsing the web. I love that part.
Hopefully put up some pictures of the case and it's insides shortly. To put it nicely I am slightly disapointed in the case as it was hand modified for the ITX boards. I could have easily bought a cheap case and done the same type of work although it may have cost more in the end for the little acc's that it comes with. Oh well....I'm still happy.