I've done a lot of experimenting, much of it with the XP120, and Akira34 is now right "up there" with the rest of us, doing the same thing.
We will not all agree on good choices of fans. With a certain level of CFM throughput, the effective thermal resistance of the XP120 drops to about 0.16 C/W. Not even the recently-released Arctic Freezer coolers can match this. Further, because of this low thermal resistance and under the circumstances of heat-leaking processors of high thermal design power, enhancing this or any heatsink with a TEC cooler is totally useless. But the 0.16 C/W is about as good as it gets -- comparing to just about everything except water and water-blocks.
That leaves fans. The Panaflo 120mm L1 and M1 get a lot of good press. I wanted a fan that had a greater range of speed, and tested a ThermalTake Blue LeD, a Silverstone, a Sunon KD1212PMB1-6a, a Panaflo "Ultra-High" output, and a Delta triple-blade. The Delta has the highest output at 142 CFM, followed by the Panaflo at 114, the Sunon at 108, the Silverstone at 104 and the TT Blue LED at 94.
Somewhere between 108 CFM and 120 CFM, the XP-120 at the CPU's load temperature will not depress that load temperature much further, although additional cooling to the motherboard and chipset can be seen to have occurred at a limit near 120 or 125.
For the purpose of my ducted solution, with foam-board acting as a natural noise-deadener, I can run the Delta at 2,800 rpm with hardly any noise, and use SpeedFan with the motherboard CPU_FAN header to spin up to 3,350 rpm, although it would go to a top-end of 3,700 if I wanted it to. I chose 97F as a thermal threshold to spin up. I think I could set it higher -- close to the expected load temperature.
The SUNON is relatively quiet, but heavy. The Silverstone has the slightest, almost hard to hear, motor-whine at its top end, but it disappears at lower speeds, just as does motor noise from the Delta. The TT loses its motor-whine also at maybe 2,100 rpm, but its throughput is just short of what you'd want.
I'm sure the Panaflo L1 or M1 will work fine, although your load CPU temperatures will be a tad higher. You won't have much of a range to work with if wanting to vary speed and throughput across a thermal threshold.
If controlling the CPU fan from the motherboard, you will want to determine the amperage limits of the motherboard fan headers. The amperages on the fans mentioned above vary from 0.48A - TT Blue and 0.45A Silverstone, to 0.51A Panaflo Ultra-High, 0.56A Sunon, 0.80A Delta tri-blade. On my motherboard, I can draw cumulatively 2.22A from the fan-headers or to that limit exclusively from one of them.
Another fan I forgot to mention is the YS-Tech 120x38mm, rated at 125.5 CFM but failing to live up to that rating. It has an amperage-draw of somewhere between 0.51 and 0.65A, is relatively quiet after a few days' breaking in, and light-weight at 213 grams. The Sunon weighs 326 grams, the Delta around 290, the Panaflo-Ultra-High about 250 or 260, and the 120x25mm fans obviously less than the "big ones".
If it weren't for SpeedFan, the mobo fan-header and the foam-board duct, I wouldn't be using the Delta tri-blade. But it's a whole different ball-game with fan-control and ducting.