Connecting case fans to mobo

Can you change the speeds? Maybe. Can you see the speeds? NO.

Without the sensor wire you can not see the speeds. My P5W DH has no problems varying fan speeds(by percent with auto speed from the bios and speedfan) on 2 fans I modded to have the 3 pin plug.
 
On a 3pin fan you have a black wire(ground) red(Positive, 12 volts on computer fans, but everywhere else on the psu red is 5 volts) and a yellow wire to detect fan speeds(in rpms).

Since fans that run on 4 pin molex(HDD/CD) only use 2 wires(Black=Ground, Yellow=+12volts[goes to red on the fan]). There is no speed sensing wire. every board i have tried works fine, just no rpm readings, but the fans do slow and speed up with my settings.
 
The sensor wire is the 4th wire your are avoiding by getting the adapter :p

Get a fan controller that you mount in a drive bay to control your fans.

You can get a fancy digital one that will read temps and control fans, or you can get a simple one with knobs to adjust fan speeds.
 
And PWM 4 pin fans run on 3 pin headers and molex to 3pin adapters fine with the extra pin hanging over.\

i did not mention PWM as for now most boards use 3pin for fans and only pwm for cpu and sometimes on system fan