Knowan asked your case temp. A decent HSF will put you between 12 and 18 degress above case temp depending on your CPU speed/type.
Are you running stock speeds? Is your XP1700+ a Palomino, Tbred A, Tbred B, which? It makes a difference.
Assuming a 30 degree case temp, a Palomino at stock speed 1.47 Ghz, and if that's a 60 mm Delta fan you have there then 50-58 degrees seems a little high. If it's a Tbred B then you a really high. However, if your computer is stable then those temps are not really a problem. Still, I can see your desire for quieter (and cooler).
I was using an OEM version of the Volcano 5 which has about 1-degree worse performance than the Volcano 6cu when using the same fan. I went from a Delta (39 CFM, 42 dBA LOUD!) at 38-46 degrees (Tbred B XP1700+ at 2.1 Ghz, ~XP2600+, 27 degree case temp) to a YS Tech TMD (36 CFM, 39 dBA, much less irritating because of lower pitch but still very loud) at 40-48 degrees. I finally switched to a Glacial Tech Igloo 2500 not pro (28 dBA) which performs the same as the latter but is much, much quieter. It runs 35-43 degrees with the TMD fan but I prefer the low noise. Never tested the Delta fan with it.
I wish I could recommend the Igloo 2500 but I don't like the high tension clip (which I had to mod). The Igloo 2500 is a basic hybrid, copper plate bonded to a big*ss aluminum heatsink. There are others that should do similary.
I'd be using the the Spire Falconrock II (21 dBA, I think) if I could get it here in the USA. (Supposedly it performs as well as the SLK800 when using the same fan according to Dansdata.com). I'd like to try one with a speed controlled performance fan though, so I could go between quiet (surfing, music listening, dvd watching) to high-performance (gaming).
I'll probably try this with the Igloo 2500, instead.
<b>56K, slow and steady does not win the race on internet!</b>