if theres sound, its probably from a cheap psu and air rushing over the cheap air obstructing fangrill. if u have a nice wire fangrill then its just blasting a lot of air. get a thermally controlled psu. or if u feel like taking the risk of opening the psu...which u've apparently already done, buy a low rpm fan and replace it. or do as i have and hook the psu fan up to a rheobus/fanbus so u can control its speed with knob. assuming the rest of your system is well cooled, lowering the fan speed of the psu a bit shouldn't hurt. now if its 99degrees outside and ur playing games, better turn it up

but thats what the knobs for anyhow.
i even wired my antec sl350 thermal controlled fans up to a rheobus. the thermalc ontrol was a bit bunk, it ran the fans too fast all the time. seems only the top of the line psu's the truepowers supposedly really control their fans to any real degree.