For airflow follow your top picture.
Power draw will be greater with 6 120mm side fans and probably also louder.
Noise depends on fans chosen and RPM at which you run them.
Power supply is also an exhaust. With that much air flow through the case you need to consider using filters.
Second picture, your Psu will pull in through the bottom and exhaust out the rear (Edit, or first picture, just flip the Psu to pull in through the mesh at the bottom of the case)
I removed the fan and mesh to put a window in instead, and your top fan should be exhaust like in the first picture
Criswell is right on the six fans being louder though, that 220 is silent as the grave,
*edit, there are no real filters as such ,there is a little mesh on the front fan and a removable filter for the Psu, but I have no problems with dust or noise, maybe the windows a good move :-)
I would also suggest you move the Psu mesh on the bottom to the outside of the case for ease of cleaning, although this means moving the rear feet to allow room)