I have found that sitting in right next to the desk (the farr side, not inside) and putting a blanket over the other side and top (no air portals are blocked) dampens the sound a little. My temps are still really good, I think. With F@H running now, the temps aren't getting up as much as one might think they would.
I didn't have to shout over it, any more than I did before, but if some one's down the hall trying to talk to me, I usually hear them, but have to have them repeat themselves. All in all, it's not all that bad for ME, though it does make it hard to sleep if I'm not already tired. (Not that I can go to sleep at the drop of a hat anyway...)