Your drive should not be making a noise. Are you sure it is coming from the drive? Sometimes its hard to track noise especially if it is high frequency. It might be worth giving this a shot to try and isolate the problem:
Go to “Start,” then “Control Panel,” and then click on the “Hardware & Sound” category. Then click on the “Sound” category, and then click on the “Recording” tab. Highlight the microphone and go to Properties. Select the “Listen” tab and “Mute” the mic as well as put a check mark where it says “Listen to this device.”
Regarding the Re-allocated Sector Count I have used an X25-M 160GB from the day it came out and I have a count of 3 with 2.46TB of writes. I'd keep an eye on it and seek advice from Intel support if it continues to rise.