Correct. That, and even at full lockup, I'm told that the mechanical fan only runs about 80% of the pully speed - so you'd note longer cool-downs as well.
I'd not think it would affect warm-up overmuch - because the thermostat still stays shut until it hits 180*F or 195*F (depending on what you've got.) Besides, it's still only a real issue with OBD - because the system keeps track of warmup time. The HEGO sensor warmup isn't an issue, because it's heated (the "H" in "HEGO" - Heated Exhuast Gas Oxygen.)
The noise issue would probably be minimal, if you've opened up your exhaust anyhow. While it will certainly be noisier (although I've not determined how much just yet,) the mechanical fan is always running at some speed, and is making noise anyhow. I'd not think "Jet Engine" (I don't have enough material for a report yet,) but the air mover will certainly make some sort of noise. Then again, we all like a little engine noise, don't we? Otherwise, we'd alldrive a Lexus or some damn thing (and I don't know about the rest of you, but I know that I like a little engine noise! Gear drives are even better...)
One thing I'm certain to do while running a proto cycle on this thing is to take a "before" and "after" recording on my rig, and I'll post those on the site as well - and let you make your own decision. Probably from the driver's seat and near the front bumper, for comparison.
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