I figured I'd be in the minority, but I love HOB overflow boxes. I'll never buy the "it will eventually fail" argument. If set-up correctly and given even minimal maintenance, they're just as reliable as internal overflows. My tank has been through extended power failures, GFCI shutoffs, you name it.....never had a problem. And there's at least a half-dozen ways around the noise issue.
Biggest advantages over internal overflows:
1) They take up much less tank space.
2) You can remove and clean them easily.