alright, first off, dont worry about any lack of knowledge...everyone is learning!
second...the volcano2 should cool better, but i am willing to bet that you are using that small pink or black square that was on the bottom of the heatsink.
this is called a TIM, or Thermal Interface Material. in your case, the tim is in the form of a thermal pad. it is about the consistency of chewing gum that has been chewed and sitting out. it melts slightly, and helps to fill in microscopic gaps and pits that make air pockets inbetween the cpu and heatsink.
while a thermal pad is better than no TIM in most cases, using something like arctic silver is better. however it is harder to install than a thermal pad, since the thermal pad is on the heatsink, and you dont have to apply it.
but by no means is applying arctic silver a difficult task. you just spread some on the small core of the cpu (THE GREEN PART). and install the heatsink.
but if you are going to use the volcano2, then you would have to scrape off the thermal pad, and clean it with acetone, and then rubbing alchohol to make sure that there is no thermal pad left, which would inhibit the thermal transfer.
as for the audibility of the volcano2, i have not had any experience with it. but it does have a 4500 rpm fan. which isnt too fast, and shouldnt be too loud. and 31db isnt too loud...believe me...maybe there is something wrong with the fan, and it might be off balance, or the bearings might be dying...unless it has always been loud like this.
i have the volcano6cu in my computer, with a 5400rpm fan, and it is pretty quiet with the case sides on.
however, i just visited thermaltakes site, and apparently, they have a NEW heatsink...the volcano7+.
it has an all copper heatsink, which will give you some good heat transfer...and tiny fins..and lots of them. it also has a fan speed adjuster...and at the lowest settings, it is about 24db...which is QUIET for a fan. even at the medium setting it isnt too loud. 35db.
here is a link to the new heatsink <A HREF="http://www.thermaltake.com/v7+.htm" target="_new">http://www.thermaltake.com/v7+.htm</A>
also, to try and quiet up the heatsink you have now, you might try a fan adapter, and put on a quiet 80mm fan.
that should not only increase the air flowing through there, but also quiet it up...killing two birds with one stone. hehe.
but yeah, i would see what people say about the thermaltake vocano7+, and see how much it costs...and if it isnt too expensive, and cools pretty good, then go for it.
i have had pretty good experience with thermaltakes newer stuff, had a bad experience with the socket colden orb...that thing sucked...but the volcano6cu, and the volcano6cu+ are good...but the cu+ is too loud for my personal taste.
hope something in this helps, and good luck finding something that will cool better and hopefully be a bit quieter.
oh, and btw, welcome to the toms hardware guide community!
in no time flat, you will become a hardware guru, if you read!
-DAvid
-Live, Learn, then build your own computer!-