My S3 is running virtually silent now. l replaced the stock fan at the front (the end with the network connector) with a Corsair SP120 fan blowing in and removed the rear fan entirely. The fan is running at 1920 rpm with 48/48 temps, ambient is 23C.. S3 is overclocked to 225. Maybe won't work so good in hotter countries but here in Uk with summer over should be okay for the next 6 months
The Corsair SP120 is a good fan for the inlet, but there's no way I would remove the outlet fan entirely. I think that's just pushing things too much, hence the high temps. With an SP120 inlet and something like a Thermalright TR-TY143 on the outlet (only £6.99 from Amazon UK), you'll get those temps down, whilst keeping things nice and quiet at the same time.