I haven't had any noise issues with my PS4, it is quieter than a homosexual's fart.
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I think I must have had a faulty SKU at the time, because no-one else seemed to have the noise issues I was getting. Perhaps a newer, updated unit will be brought out this holiday season, alongside some of the titles from E3. Most of the bugs in the console's software should have been ironed out by then, with a potentially larger HDD option being released. That'd be the time to buy.