I know this isn't the cheapest solution, but I recently replaced my Volcano 9 with a Thermalright SLK-800 with a Vantec Stealth fan. The difference in noise is unbelievable, and the processor is actually 2C cooler than it used to be with the jet turbine on it.
I also have a Volcano 7+ in my other machine, with the 3-way fan speed switch set to low. It keeps the Tbird 1.4 at about the same temp as the SLK-800 on my XP 2100+, and is decently quiet.