Help with new build's noise and heat

Hi, im having some problems with my new gaming pc that i just finished building and i was hoping someone could give me a few suggestions. First thing is the noise. The sound is driving me crazy. Second thing is the heat this thing puts off. It gets so hot it makes my room uncomfortably warm. Any suggestions on how to make this thing quieter and cooler?

Specs:
intel Core i7 950 (non-OC'd)
2 Ati radeon 4870's
6 gb ddr3 crosair ram
750 GB western digital HD
NZXT M59 Case

Upgrade your CPU heatsink to a larger one that has a quieter fan, and also upgrade the case fans while you are at it. Unfortunately there is no way to reduce the amount of heat the components generate except for the CPU, you can undervolt it to reduce the power it dissipates, it can actually lead to fairly significant differences in power consumption.

What PSU is it? If it is not 80 plus certified then consider getting a higher efficiency unit as it will produce less heat at load, and if you get one with a 140mm fan it will be quieter, especially if it has good fan control and barely ends up running.