I just set up a M2 Studio
Max with a companion Studio Display in a quiet room.
Background: I'm
extremely sensitive to noise, especially higher pitched sounds such as coil whine. I went so far as to put my linux box (and my ancient Mac Pros) behind a wall to silence them. And I hacked my previous 27" iMac from 2017 to reduce the idle fan speed to 850 RPM to quiet it down. So you know I'm serious!
Now, the Studio Max: Rest assured, folks, it's neither loud nor annoying. That includes the Studio Display, which also has fans that run full time. I would say the combined noise from the two is a little less than the 850-RPM hacked iMac, and a little more gentle in tone, too.
In a very quiet room, from a normal position, you can hear a little relatively-hushed air movement, with just a hint of mechanical noise from the Studio Max if you listen really hard for it (and basically nothing but air movement from the display). Press your ear right at the air outlet, and you can hear a mechanical noise, but it's still pretty quiet.
I'd prefer no fans at all if possible, and someone somewhere is likely to still complain about any noise at all (that's me, typically!). But yes, it does appear that Apple has made this version substantially quieter. Even with my extraordinarily easily-bothered ears, I'd say this computer is eminently livable in a quiet room.
(Haha - as a backup plan, I got a 3m Thunderbolt 4 cable so I could place the Mac Studio farther away, or behind a wall again, if it bothered me. But I don't feel the need for that.)
So all you finicky golden-eared worriers like me: I hereby bless the M2 Mac Studio Max as an audibly-safe buy!