Well, it's a tiny fan. what did you expect.

It's not that loud at 7Vs, but when I made everything else quiet, it was the loudest. What was surprising was when I changed it from 12V to 7Vs. When I first installed it at 12Vs, I felt the back of my card while running benchmarks and I could feel it heating up. But once after the AS settled, my card remained pretty cool even after hours of 3dmark. Then I changed it to 7Vs. First thing I noticed was the drop in noise. Second was that the card got a little hotter, but still pretty cool. So I would recommend changing it to 7Vs if you care about noise.
I guess I might be a noise freak though, since I replaced the CORB with a big P200 hs, no fan. My card does get pretty hot now, but it's stable. No freezes, no errors after a month. If you have a big hs lying around, you might want to try that before the CORB.