My BAM you can hear the fan pretty early on, although it is not loud. After an hour or so of playing at any sort of volume the fan is fairly noticable (when you stop playing - it doesn't intrude). Gets quite hot after a few hours, obviously there isn't anywhere for the heat to go.
The green light is on a lot of the time, I can't recall the green light being off that much when playing. I just have it so the green light is on with the occasional off, and no solid. Although honestly, don't worry about that too much as long as it sounds ok.