If you want to make your PS3 cooler and more quiet you could stand it upright and let physics work its magic and the heat will rise up out of it, unlike the 360 which has no vents up the top.
Its not so much worrying about the heat, its the prospect of having a silent unit that fits on the back and ensures that hot air is sucked away, leaving (I hope) the fan to run on the lowest level possible.
Natch if the above doesn't work, then its a waste of a tenner. But I may do it for the greater good of the forum so we can all sleep at night!
If I were you, I'd save the tenner for a couple of beers at your local, judging by these comments about it:
http://www.play.com/Games/PlayStation3/4-/3321368/-/Product.html?searchstring=Joytech+Fusion+Cooling+Fan&searchsource=0
FWIW I was given, a Joytech PS2 controller free with my PS2 when I bought it. It too was awful, and I can see why it was been given away free...