That's a PWM fan for sure, the cooler looks like a Zalman ZF1000.
It does look a little like the ZF1000. MSI actually makes another 8800GT card with
the ZF1000, the "Zilent" version, just to throw a little confusion into the mix.
If you compare pictures of the two cards, some differences are obvious. See the 1st picture on this site
for a shot of the MSI NX8800GT "Zilent" with the Zalman ZF1000.
Compare that to this top-down product picture
from Newegg of the card I ordered.
The version I bought (not the "Zilent" version with the Zalman heat sink) has a larger heat sink, with a slightly different shape, with larger diameter heat pipes, with heat pipes that extend out further from the core, and with wider-spaced heat-sink fins. The version I bought omits the 2nd heatsink on the voltage regulators, and apparently all the ram sinks. The Zalman version has a different fan (more blades, skinnier blades).
I should get mine on Wednesday. I'll take pics and report on noise Wednesday night.