My general disinterest towards rackmount gear betrays my superficiality. I didn’t even take a photo of this one because it wasn’t pretty enough. This is what happens when girls work on synths. Your fears are confirmed.
I hate to have to tell you this but your Microwave 1 will always be noisy. Its low sample rate will make it always click because of waveform phases not lining up as it runs through the wavetables, and the DAC will always produce a high hum and a loud chirp when you turn it off. You should still recap the power supply though.
I did a post about this synth only to put this here: Here’s the Waldorf factory preset sound bank which I edited to convert it from a .mid file to .syx (System Exclusive) so you can dump it from MidiOx or SysEx librarian instead of grappling with timing the midi sequence correctly.
Note: this file is configured for a Waldorf MicroWave 1 with its device number set to 000. You should be able to send it to your MicroWave and have it load without doing anything to prepare your MicroWave to receive, but if it doesn’t work, check your device number (set via Device Param. menu).