The M120's run so hot because they're a cathode bias design. It's tough to combine high-power cathode bias and PCB without issue. Such a configuration is better served by point-to-point wiring.
The current model Rogue amps all use fixed/adjustable bias and thus provide higher power output with lower heat. They're extremely reliable, and sound excellent. The only operational issues I've ever heard of from the current models were due to bad batches/runs of New Sensor output tubes (particularly the EH KT88 a few years back). I had an EH KT90 short out 2 years ago. The KT120 is a far better sounding tube, and has proven reliable.
As for combining lots of power with efficiency, I run KT120's in Apollo monoblocks (very high gain/sensitivity, and almost 300 Watts/ch) into true 96dB/Watt speakers (not from an overly optimistic dB/Watt rating like some). The amps themselves (with preamp muted) are dead quiet. My preamp is high gain (> 20dB) so it contributes a tiny bit of tube noise, since the downstream gear is so highly sensitive. The vast majority of noise comes from the MC phono stage, and of course there's a big difference here between various makes/models. Mainly, you just have to watch overall active system gain vs. speaker sensitivity. An Atlas with Zu Omens shouldn't have noise issues unless the upstream gear is just wacky.
