no space between the pegboard and wall. His was reply was just to trust him

That figures.... In my experience a non-answer like that either means he doesn't have a clue if it even works or not, or it means that there is a major trade secret involved. And since there's no science at all to back up that arrangement, I'm betting there are no trade secrets involved here...
Unless he has some actual technical data that backs up his rather curious claim, I'd forget it. Perf panel does not work like that. Helemholtz resonators do not work like that. Diffusers do not work like that. Absorbers do not work like that. I think he needs to read this book:
http://www.amazon.com/Master-Handbook-A ... +acoustics
Here's a basic summary of the way acoustic treatment devices work:
http://www.soundonsound.com/sos/aug98/a ... ustic.html
Note the section on Helmholtz resonators...
Here's some commercial products that work: note which way they face, with respect to the wall...
http://www.stylepark.com/en/architectur ... ets/325480
Here's some more in-depth stuff on how real perf-panel works:
http://www.iperf.org/IPRF_ACUSES.pdf
(which i will try to back out of upon arrival unless anyone can concur that it will be benificial to me.
It MIGHT be beneficial to you, but NOT in the way he describes. Only if used correctly: see the above PDF for info on that. The hole size and spacing, and the percent open area, would have to be in a usable range for the available depth. So if he won't sell you the 703 without the panels, then you have two options: 1) Check the hole size, spacing and percent open area to see if it is any use, 2) Go to Home Depot, spend the same amount of total money, and get ONLY what you need, instead of patly what you need, and partly useless.
I'm wondering if he's just trying to dump that panel on you, since he has no other hope of off-loading it any place else... ?
walls and ceiling were filled with 1/2 pound spray foam insulation
That wasn't a lot of use, acoustically: most spray foams are closed-cell, which means air cannot penetrate, and therefore it is useless acoustically. Only open-cell insulation has usable acoustic properties. Closed cell works fine for thermal, but not for acoustic. Most spray foams also set rigid, which creates flanking paths through the wall. So that wall isn't isolating very well at all.
2 layers of 1/2in sheetrock on walls with a green glue substitute in between each layer.
1/2" is a bit thin for good isolation. It is too flexible, low mass, too thin, etc. The resonant characteristics are not ideal for isolation. The normal recommendation is for 5/8" drywall.
with a green glue substitute in between each layer
"Green Glue Substitute"

What's that? There are no substitutes that I'm aware of. Or rather, none that have been tested and proven in independent acoustic labs, with published results. There's a few manufacturers that make interesting "claims" about their products, but for some reason they don't seem to want to show the results of independent testing.... Makes you wonder, doesn't it?
Do you know what the "substitute" was, in this case?
runing through the silencer box
There's a few issues with that box:
First, the lining should only ever be proper duct liner. Ordinary foam, fiberglass and mineral wool will work, acoustically, but they don't last over time, as the airflow ablates the surface, shedding fibers or particles into the room, into your gear, into your instruments, and into your lungs.... Duct liner has a coating on the surface that keeps the insulation together.
Next, the airflow path must be kept to a constant cross section that is at least twice the area of the inlet. Since the foam bulges in several places here, that greatly accelerates the flow, causing turbulence and air noise. It also increases the static pressure greatly, which makes the fan work harder, outside of its optimal range, which means it will fail sooner, and is also not operating efficiently: operating costs go up, duty cycles are longer, etc.
And finally, the inner surface should be as smooth as possible, for the same reason as above: any discontinuities create turbulence, increasing noise, static pressure, etc.
So although that worked for you to a certain extent, now you can do it much better, improving on performance, costs, quality, etc.
as i burned up the motor in two other units before realizing the box was giving too much resistance.

Yup! Not surprising, really. There are a number of calculations that you need to do when designing a silencer box. Actually, for designing the entire HVAC system. There's a large number of variables that need to be considered, and not taking them into account can lead to issues like that: burning out fan motors is just one of many expensive things that can go wrong....
But like I said, that can all be fixed now! That's what this forum is all about: helping folks get their studios done right, and fixing all the problems that they already have.
- Stuart -