Both the lower noise level and lower temps were seen after I installed this in my machine, E6400 @3.2 (400x8). CoreTemp v0.95 was indicating almost 70C (and loud!) when running F@H SMP core or encoding video with the stock cooler, now only seeing about 55 C (and still almost silent) at same loading and same ambient air temps. I bought mine for $35 so it looks like you found a bargain.
Just for reference, I also bought a Cooler Master Hyper TX and it showed very similar temperature reductions and low noise levels, but only cost $29.