For the longest time I was experimenting with Pentium III processors and have seen and tried different solutions. I know for a fact that the slot type Pentium III CPUs up to 700MHz were cooled with passive aluminum coolers and had no problems. But - that is when used in a well ventilated case.In addition, the socket 370 run hotter than the slot type CPUs. I would not go passive in a mATX case which probably has poor cooling as it is. I would go with a low noise active
HSF such as the
Zalman. You may have a problem with such a large
HSF in a mATX case, so you should verify the size on Zalman's website.
The Dell
PSU may be another source of noise - putting a better fan in there may be more beneficial for noise reduction purposes.