Hooked up to deliver 100W into the SPCR power load tester...
-- It draws slightly more AC power (5W) than a Nexus NX3000, which means lower efficiency by a couple %. May just be sample variance. Comes out of the same factory...
-- The airflow is obviously MUCH higher than with a Nexus (which is no slouch, given the low noise level)
-- It is difficult to say which is quieter. They are VERY close. I don't think you'd be able to measure the difference without high resolution spectrum analysis. The 120mm Fortron has a touch more low frequency content, I think, likely due to higher mass.
For noise, in a nutshell, it is close enough to call a draw vs. the Nexus, which measures ~22 dBA / 1 meter in an anechoic chamber. Neither is as quiet as the Exotic PC SilenX 14 dB sample on hand.
- CORRECTION!: The trouble with quick assessments is that it is so easy to get it wrong. I got it wrong. Last night around midnight, when the ambient noise level is really low, I gave the 2 PSUs another listen.
At 6" distance from the exhaust port, the 120mm Fortron is actually a bit louder than the Nexus. It's no more than 2 dBA, could be less. (very small difference). It's mostly airflow noise, mostly lower freq. (under say 500Hz).
It is very quiet, but my (2nd) impression is that in noise ranking, it probably slots in (at low temps & low-med load) below the Nexus and Verax, but above the Seasonic. For obvious reasons, this assessment is still subject to verification in a full review.