My questions:
1. The higher the difficulty, the less strain on the miners (SHA256 or Scrypt for that matter), therefore the fans don't speed up and generate less heat - is this correct understanding?
No. AFAIK the difficulty does not matter regarding the speed at which the miners mine and the power they use. The miners will mine at a set speed and simply have to do more work to find one solution. In a given amount of time, the miner will do the same amount of work, just that with different difficulties, a different number of solutions will be found.
2. Assuming that the higher the difficulty set for the miners, achieving the above #1, the payout rewards are also higher for solving difficult algorithms?
No. You will actually be paid less. Since you are doing more work and spending more time on one problem, you will be submitting less solutions (shares) than with a lower difficulty. Since most pools pay in some way related to the number of shares submitted in a given time period, you will be paid less since less shares are being submitted.
4. What is the highest expected BTC return for my setup above?
I don't know, but there are many online mining profitability calculators out there. Do a google search for them. Usually you will need to enter the hashrate or the hardware model (it will know the hashrate based off of the hardware), the power consumption (again it will know the power consumption based off of the hardware if that is entered), your power rate, and the amount of time.