Yes, the retail P4 Northwood fans are all temp regulated. They normally run around 2700 rpm. Mine has run as high as 3900 rpm when things were hot.
Here's an excerpt from
this Intel page about the retail HSF:
"the boxed Intel Pentium 4 processor fan heatsink uses a high quality variable speed fan which allows the processor to remain within its operating thermal specifications by running at different speeds over a short range of internal chassis temperatures. The processor fan operates at a low speed while internal chassis temperatures are low. If internal chassis temperatures increase beyond a lower set point, the fan speed will rise linearly with the internal chassis temperature until the higher set point is reached. As fan speed increases, so does the noise that the fan generates"