This is how my Corsair CX600M fan sounds, like an old-type noisy hard disk drive frequently chugging away when writing. Does this definitely mean it's on its way out?
Also, whilst the item is no longer available at Novatech, I think the PSU may have had a 3-year warranty on it. Would it be possible to get a refund or replacement? I bought the item back in August 2014.