The fan assembly includes a thermostat. It's a cooler guys assembly from amazon, it was about $100 IIRC. It takes up 2U.
After speaking to a friend, he indicated he thought the Slim5 was meant to be framed in the front and let it be open elsewhere to let "convection" work (i.e. if it was an unfinished space). he also recommended I rip the carpet out of the closet, and vent it out of the closet in a couple different fashions. He said (and I've read the same) that middle atlantic's fan assemblies are loud.
He mentioned I should intake at the bottom of the rack (front), and exhaust at the top (back). So I can use this fan assembly as an intake (just reverse the installation).
I guess the Slim5 is pretty inexpensive compared to purchasing the side and back panels, I do still need to do more research to get these to work. I would not have been willing to spend extra dough for the AXS pull out rack or panels, because I'm working with too many racks. With one rack I probably would have gone all out, but they must share the cost. =D
There are no cables in that closet. There's nothing in there right now, my christmas tree was in there a few hours ago.
Here's a nice image he provided me, just for basic installation notes:Edited by elmalloc - 3/9/13 at 2:55pm