Yes, when fan control is off, the fan spins at 100%.
With fan control on, CPU temperature at idle will be higher, while under heavy enough load to get the fan to 100% again, no change will occur - unless your heatsink/fan solution is so much of an overkill that it never gets there.
Remember, the purpose of the cooling solution is to keep the CPU below its maximum allowed temperature, not to keep it as cool as possible.