Update to my video card squealing like a stuck pig. I reset the card to stock and turned my fan speed up a tad and that initially solved the problem when the card was at full load. Well sadly the squeal is back so I called XFX tech support and the guy said it's not the VRM but a capacitor or choke and he suggested I RMA it back to NCIX seeing it's only 10 days old. I wasn't really looking forward to going without folding or gaming for 2 weeks so I did some more digging on a solution to this problem and I found a very interesting article regarding this almost exclusive Nvidia design flaw.
It seems that all Nvidia partners except EVGA are bound by Nvidia reference board manufacturing process and they really cheaped out on the analog capacitors and chokes instead of doing what ATI did to resolve the issue by making all their capacitors solid-state and sheilding the chokes. Yet another Nvidia design flaw which ATI addressed long ago by including Digital PWM (Digital Voltage regulator module). Anyways this article explains the finer details and even goes to the enth degree to show exactly how to resolve this minor issue without going through the pain and hassle of a RMA. It's really a fantastic read and I highly recommend anyone owning a Nvidia card to give it a look. I'm curious if the new GTX 285 and 295 suffer from this same problem or if Nvidia got a clue and finally stopped cheaping out.
Nvidia’s “deadly” flaw and how to fix it - no more GTX280 squealing! Theo’s Bright Side Of IT