5400 drives in both form factors have indeed made noticeable gains in performance since the 'Cuda IV was competitive with other 7200 drives. I don't imagine you would be disappointed if you act on the conclusion you have reached.
However, I wanted as quiet a drive as possible that still (listed in order of importance):
1) fit in a highly-constrained mATX environment
2) sustained my current level of HDD performance
3) provided lower hard drive temperatures while suspended or rested on foam.
I thus recently purchased a Hitachi Travelstar 100GB 7K200 to replace my Samsung P80 120GB IDE with Nidec motor. I suppose my needs are only similar to yours in that I don't need much storage space. That said,
1) I now have space not only to supsend the drive in my 5.25" bay but to simultaneously enclose it in a Scythe Quiet Drive (2.5" version)
2) Performance is more than
comparable; the 7K200 actually bests the P80 in most categories
3) With idle and active temps approximately 7 and 3 times lower, respectively, than those of my P80, keeping the 7K200 cool should not be a problem, even when suspended and enclosed in the 5.25" bay with minimal airflow.
As far as the aforementioned comparison of T166 and 7K200 noise levels at SR is concerned, it must be noted that the 200GB version of the 7K200 they reviewed has 2 platters and 4 heads. The 100GB version, meanwhile, has only 1 platter and 2 heads (page 17). Hitachi also lists the 100GB version as relatively quieter, measuring 2.2/2.6 "typical" Bels idle/seek while the 200GB version measures 2.5/2.9 "typical" Bels idle/seek (page 37).
Travelstar 7K200 Specification
In theory, the 72K00 should be reasonably quiet in my particular setup. Only tests will tell. However, after all the work I've put into my latest build, I can't be bothered to hook my P80 up for comparison. Problematically, the P80--while enclosed in a 2002 SmartDrive, itself sitting in a 5.25" bay with no airflow--was not the loudest thing in my old system; comparisons between HDD noise in my old and new setups won't be very helpful. It will be at least another week before I finish this build anyways.