Greg from Laser Bear industries gave it a look and it seems like it matches the stock fan in terms of temp control, I believe he was unhappy with the previous Noctua mods. In terms of noise it seems to match the 50k fan, which is pretty good for 30/39k PS2 owners. No real benefit for 50k PS2s but a good replacement if your fan is broken.

Greg on noise vs a stock 50k fan:This system was tested with the thermal probe in the same place a while back, it hovered around 37-40C in a room that was cooler. They are functionally identical results. I won't say this is running cooler, but it's running close enough that I'm confident the Noctua 5v is the best for this application. The under-volted 12v fans ran too slow and were in the 50C range when I tested them.
Greg on if it can make a 39k sound closer to a 50k stock fan:It isn't a significant difference in sound unfortunately. The fan noise is amplified by the case so even though this fan is nearly silent, you will still notice it, especially on later model fat consoles, but on early fat consoles this will absolutely be better.
It will meet that expectation for sure.