"Accoustic management slows down the head seek speed so random access speeds will be impacted. You can see it pretty dramtically using the FTOOL - set the 'test' option on, slide the bar to the minimum and watch the drive slow down. Sequential reads won't be impacted as much.
Again, though - aucostic management won't do anything to reduce the "whine" that people are complaining about - only the "chatter" during seeks. The whine is a function of the speed the drive spins. If you don't like that sound, you'll need to go to a slower drive or wait until someone other than Hitachi comes out with a 7200rpm alternative."