I used the FK-603 as the case for the computer I built my father, and it is MUCH quieter than the FK-320. I used that computer in my room for a while before my dad took it, and I was pretty satisfied with the noise level. When I built my computer and upgraded to the 320, however, I was in utter shock over the change in noise. It's probably the difference in power supplies that accounts for the noise increase in the 320, but the fact that the 603 has plastic sides may help as well...
I'm sad that the panaflo won't be as quiet as I hoped. Maybe the rear exhaust fan in my 320 was faulty as it was reeeeally loud -- according to some specs i just saw, the panaflo should be quieter than my intel HSF, and the fong-kai fan is definitely much louder than that. We'll see. I'm also going to order an Alpha PAL6035 with the quiet 16.1dB ADDA fan from Pham computer. Hopefully that'll solve my noise problems...