Beyond the speed control, I also added a fan isolation box out of a cooler and a DIY muffler from Kovenant. I followed his instructions as close as local stores would allow except, I used polyfill, quilt batting rather than fiberglass.
It won't give you true stealth but, if you can keep it on the other side of a door, it's enough.
http://www.icmag.com/ic/showthread.php?t=65345&highlight=muffler