Panaflo's are nice, but if you get enough of them they can still be noisy. Not to mention where the air comes from, if the case isn't designed so well it can sort of add to it all - not quite a whistle, but can still have noise even if the fans are quiet.
I've spent the last week monkeying with a lot of this stuff too. Just put my machine into an Antec Sonata case, and added a fan control to one of the 5-1/4 bays. I set the whole thing up on the dining room table, and when it was done plugged it in and listened to it. I have two 120mm case fans, a fan on the chip, two on the video card, and one in the power supply. It was easy to disconnect the case fans, and I was glad to see they added no noise at all (well, I did have them turned down in RPM via the controller). I have a GF FX video card, and I just had to unplug the 4 pin that powered those fans too. Since the computer hadn't been on long, and I wasn't gaming, I figured the card could handle it a while. Ahhhh, very noisy. Last was the CPU and pwoer supply fan. I touched the CPU fan (in the middle so a not to get cut on the fanblades) and stopped it momentarily. Another big jump. And I pleasantly noted the power supply fan wasn't at fault.
Anyway my point is, it's not too tough to really narrow down which ones make noise. Don't hold them stuck for too long lest something overheats, but for a few seconds here and there it worked for me and didn't hurt anything. Once you narrow it down, start shopping. There's a myriad of stuff that can be done.