Hi Scott,
Which velocity are you running, and on what size tank. I don't think the Iwaki 30 has a fan, at least mine doesn't, and it gets hot to the touch. I don't know how much of that heat is transfered to the water since it is the back part of the pump that gets hot.
Even without a fan the Iwaki is loud. Mine is my living room and I can clearly hear it over the noise from my overflow. It is a loud hum. My wife just says it is white noise and it ignores it. I am probobly going to swap it out with something quieter in a couple of months.
Jeff