Earlier versions of the Wave Master came with only the I/O Function Panel. I thought this was a poor design and was happy to see they added the 80mm fan option later. Switching them out is just a matter of 4 screws.
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The mesh screen for the fan has recessed brackets to allow for a flush mount finish.
When I built my machine, I wanted it to be as quiet as possible. I used rubber and silicone dampeners where I could. Some are more effective than others and I changed the configuration of some of my "washers", but this gives you an idea.
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If you are going to paint or powder coat, it would be a good excuse to hide those screw slugs. Preparation is the key to a quality finish.
I think the fan is much more functional and aesthetically pleasing than the function panel with a myraid of wires and cables hanging out of it.
Grump,
The Mad Modder