They've been around for awhile, but I can't think of any high-powered cooler they've made. However, for your applications, it'll probably be fine. I would check and see what fan is included. Back in those days, high-RPM Delta fans were used, and weren't quiet from what I read...of course, keep in mind that some people are more sensative to noise than others, and I'm not one of those people.
The design looks like some I've seen before that performed well. I wouldn't spend a whole lot on cooling for a Socket 370 rig, but if that's less than $15-20, it can't be any worse than stock cooling.