The wire never touches the puddle. Instead, it pinches off somewhere between the tip and the weld puddle, and forms droplets which then "shoot" into the weld puddle. This action is rapid and fast and consistent. It's a quite, steady hiss, instead of a "frying bacon" sound. Some people confuse this with having the voltage turned to high and the wire is burning back to the tip irregularly.
Depending on how your eyes are focused, you may be able to catch sight of the droplets as they form and enter the weld puddle.
Of course, the quiet hiss thing goes away if you are using a pulsed spray...then it sounds like you kicked over a hornet's nest.