Okay got the new cpu/heatsink installed and it's definately quieter. Now it's the front case fan that seems to be making the most noise.
Arctic Silver is some kewl stuff! Probably comes in handy against vampires and werewolves too.
Try a foam gasket for that fan. You might even be able to make your own if you have some sort of thin foam material around the house, like that pink stuff used to wrap electronics with.