No, Apple was not that advanced then. If you have a cooling fan on a 603, then it was on all of the time and was not managed by temperature. You might be able to swap the cooling fan for a heat sink from another 603 based machine that didn't use a fan. If you have a fan I can only assume that you are using a PM 6500, as they are the ones I'm most familiary with having cooling fans.
Or better yet, replace the fan. Those high speed 603s could run hot at times and that is why Apple chose overkill on cooling.