I'll might draw some heat (no pun intended) for this, but I have a 500W PSU that I got from CompUSA one weekend in desperation when my Enlight bit the dust. The PS has two fans and believe me they were louder than my, at the time, stock V7. I pulled the plug on the intake fan of the PSU and my temps went up 1 degree. I have monitored the air flow from the back of the PSU and it is almost cool and it is now VERY quiet.
Keep in mind that just because a PSU is rated at 350W or 500W doesn't mean it is going to run at that load all the time. If it isn't cranking out a full load it won't be cranking out a lot of heat, which is one reason I went with the overkill 500 Watt job.