Review

Well it is what it is. Still it has good potential.

It is very easy to mod and that will reduce lot of the sound it produces.
Do it on your own risk. I took a cover off and used anti-vibration mat on inside surfaces. Made sure to glue it just on the places that have clearance for it. This added mas muffled the cover totally. Now you can place it on the sponge an that will decouple it from the table. This to things will reduce sound output a lot. This will make it from pretty irritant to mildly irritant things.
Now for this amount of money and for added materials you are getting OK-ish solution for fume extraction.
Suction power? Well it is strong enough but it depends on the User as well. If you are person that uses to much tin and uses to high iron temperature suction power might not be enough. Specially if you are using tin with lot of resin/flux in it. Specially if you do not take care that suction pipe is above the iron at all times. On other hand if you use newer formula no clean tin and you are using needed temperature of the iron and not like 50 degree Celsius more then needed plus you place the suction tube proper this solution will be enough.
This pump have two carbon filters. One on the intake and one on the exhaust. I have not noticed any smoke escaping the pump. I would not check for the smell on the exhaust either.

Someone somewhere stated that he forgot to remove transporting screw and that made it very loud. I do not get it how is that possible. There is a label across the 230V port stating to remove the transporting screw before operating this pump. Even if you would ruin it whole pump assembly costs like 27 Euro. Or just get the new one.

For the price and after mods this is 4,5 star device. As it comes it is just an average working thing. Not meant for the prolong exposure. For that it is to loud,