My New iMac, just over a month old started making this horrible noise last night while we were putting, to be fair a lot of photos into iPhoto. it sounded like a scratching/hissing noise possibly from one of the fans would be my best guess. iPhoto crashed a few times but we managed to get the photos on and it seemed to be fine. This morning I turn it on and while the strange scratching/hissing noise seems to of gone the fans are going crazy! They seem to be in overdrive.