Nope, mines quiet. Doesn't even get loud when the fan kicks up a notch or two during heavy gaming during the day (I don't use a/c and it's pretty warm where I am)
FWIW the 60gb model seems to have the highest failure rate/problems, followed closely by any model with the single lens BD drive. If yours is an older model like you say and it's out of warranty (and you feel competent) pop it open and replace the thermal compound... or go crazy mod it with a complete water cooling system