I bought it because its supposed to be quiet, and it deoesn't dissapoint.
Alright, so it has a cheap feel, and looks pretty lame (mine is chrome with a blue light), but who cares, I can't see it. More importantly though, I can't hear it!!! With it on, in the open about a foot from my ear, I can't tell if it is on or not by hearing it, that's how quiet it is. Perhaps if you were in a super quiet room, you could, or if it were your only case fan, but it is the quietest 120mm fan I've heard (although admittedly I haven't heard that many), its definently quieter then the fans which came with the case and on set to low, they are virtually silent.
It doesn't have a ton of airflow though, so its not the best choice if you're overclocking - or as the main/only fan your going to use. However, as an auxillary, or just to get a bit of air movement it is, in my opinion, perfect - and its pretty cheap too!
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4)
I am glad that your cheap lame looking fan works well for you! ;-)