*Disclaimer* I am not responsible for any damage to your system as a result of this mod.
I just wanted to write up this quick mod that I came up with for all the Panaflo users out there using 3-pin to 4-pin converters. It's real simple to do, it only took 10 minutes from beginning to end

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I've been using my Panaflo's at 12V for awhile but I kept hearing that they were much better at 7V so I decided to try it out today. Here's what you'll need:
- 1 toothpick
- "branch" of 12V wiring coming from your PSU with no other components connected to it.
- As many case fans as you like, as long as they as they connect through 3-pin to 4-pin converters.
- As many Y-connectors as needed. These are the 3-pin to 4-pin connectors I am talking about, they have two molex connectors one male one female and one male 3-pin connector
How it's done:
Make sure there is nothing connected to the PSU "branch" you will be using because once you do this mod, everything on that branch will effectively operate at 7V
First use the toothpick to gently press the sides of the male molex
of the Y-connector's red and black wire. That is your molex connector should have the wires as follow (from left to right): Yellow, black, black, red. If you do it properly the crimped wires should slide out effortlessly from the connector.
Next, Place the black connector into the red connector's old spot. Note that this black connector should have both the molex's black wire and the 3-pin connector's black wire crimped. Now slide it gently and make sure it is in solidly by tugging lightly on it, the connector should not slide out.
I strongly suggest at this point that you label the pass-through cable "7V fan IN" using a plain label for future reference.
Now you have a red wire that is dangling, I covered mine up with electrical tape so that I can undo the mod if I ever have to go back to 12V on these fans.
This is very important as you don't want a loose ground pin flopping around in your case.. For a more permanent solution, simply cut the cable flush with the other molex connector.
Your modifies molex connector should now have cables in this order: "Yellow-Empty-Black-Black"
I suggest you label this end "7V FAN ONLY" as anything that gets connected to this branch will only be receiving +7V
Now simply connect all other Y-connector (3-pin to 4-pin) in series as needed and connect to the branch of the PSU you had previously cleared. Now connect all the fans as usual and you're ready to go. All the fans will be receiving +7V.
Check with a multimeter if you like:
Be aware that this may not be the best idea if you have a PSU that doesn't support too much current on the +5V rail and you have some large power hungry fans.