I'm quite sure everything above the 2x2.3GHz is watercooled.
2.7GHz are defintly watercooled (unless there are 2 versions which doesn't seem to be the case).
G4 QuickSilvers only feature simple fans with buildin (primitive) temp-sensor. Replacing them with quality fans and adding some "smart" fan controller makes a huge difference.
Note
G4 No1 1.8GHz 45°C 3800RPM
G4 No2 (unused) 1.8GHz 44°C 3200RPM
Case 41°C 1300RPM
Yes it's audiable, but surely far less noisy than a MacMini under load (which makes no difference on the PMac).