Conclusion:
GELID has another strong fan on their hands with the Wing 12PL. Although it's marketed for it's cool looks, LED lighting and "gamer" performance, it's quiet operation shouldn't be overlooked either. In some day-to-day use in my system, this fan didn't stand out to me over the other silent fans I am running (of course it will get louder as the CPU is used more intensively due to the PWM control). It's not a great buy for $20 if you're looking for cool looks, PWM control, and all around great performance.

Pros:
Great looks (black frame, green blades and white LED lighting)
PWM controlled (backwards compatible with 3-pin connectors for non-PWM use)
Great performance
Pretty quiet when used at average speeds in PWM mode
Reasonably priced

Cons:
None that I could find